ON THE SPOT
Why the best bank in the world is determined to remain focused on SA
Business Day speaks to Capitec Bank CEO Gerrie Fourie
Capitec Bank’s recent reinclusion in the JSE Top 40 index follows a record-setting run in which it outperformed its banking peers by more than 20% year to date. The banks index has fallen 7.5% since the start of 2017, while at Thursday’s close Capitec had gained 15% — notwithstanding its pull-back from last week’s record high share price of R832. Business Day asked CEO Gerrie Fourie… Are you tempted to raise capital from your nicely priced scrip at the moment? We’re in a capital-flush position. Our capital adequacy is 34%, so we’ve got enough capital. We’re definitely not looking at a rights issue. We are conservative on the capital side and we’ll keep on being conservative. Is there a situation in which you would need to raise capital – especially considering your expansion overseas with the recent acquisition of Cream Finance Holding? At the moment, there’s nothing we’re looking at or are aware of. We have not even had a discussion on a rights issue at board level or any other lev...
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