Capitec expects double-digit earnings jump

JSE-listed Capitec Bank expects earnings growth of between 25% and 35% for the six months to 31 August 2024, it announced in a voluntary trading update on Friday.

Group earnings per share will be between 5 085 cents and 5 492 cents per share, compared to the 4 068 cents per share in the corresponding period in 2023. Capitec’s value-added offering includes licence disc renewals, prepaid airtime and electricity, cash send, and voucher purchases.The bank says it experienced high credit impairment charges due to high inflation, high interest rates, load shedding, and a tough economic climate in the six months ended 31 August 2023.

“Earnings and headline earnings during the second half of the 2025 financial year will therefore be compared against a higher base.”

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