Capitec alerts shareholders to higher earnings
The bank, which has fared better than its larger peers on the JSE this year, issued a voluntary trading update saying it expects an 18% increase in HEPS
Capitec expects its headline profit to rise by up to 18% in the six months to August, from a year-earlier period.In a voluntary trading update on Wednesday, the unsecured lender said it expected headline earnings per share (HEPS) to rise to between R17.45 and R17.90.Capitec, which boasted at least 8.6-million active clients by the end of its 2016 financial year, expected to release its interim results in late September.The company fared a lot better than its larger peers on the JSE, with its share price gaining 29% so far this year.Over the same period, Standard Bank has gained 9% and FirstRand 4%, while Barclays Africa and Nedbank have dropped 11% and 10%, respectively.
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