Transaction Capital on Wednesday upped its first-half dividend by a hefty 40% to 21c, as it benefited from growing demand for credit to finance minibus taxis.Core headline earnings rose 22% to R310m in the six months to end-March, with the SA Taxi and Transaction Capital Risk Services divisions accounting for the bulk of the earnings.SA Taxi grew headline earnings 20% to R173m and net interest income by 19% to R491m.SA Taxi’s loans and advances portfolio, which consists of 29,921 vehicles, grew 15% to R8.9bn while the number of loans originated grew 4% as a result of what it said was a slight increase in minibus taxi prices.Transaction Capital Risk Services (TCRS), its debt collection business, grew core headline earnings by 28% to R119m.The performance was supported by "TCRS’s continued acquisition of nonperforming loan portfolios from SA’s risk-averse consumer lenders, who prefer an immediate recovery against their nonperforming loans".The nonperforming loan ratio held stable at 1...

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