Capitec’s profit growth undented by competition and recession
Bank expects earnings to increase at least 18%, while some its rivals have suffered setbacks
08 March 2020 - 19:18
In the clearest indication yet that the weak economy and new competitors have not yet hit its business, Capitec, the country’s third-largest bank by market capitalisation, said on Friday it expects headline earnings to increase 18%-21% for the year ending February.
In a trading statement ahead of the publication of its full-year results, the bank said it expected headline earnings of between R54.01 and R55.38 per share...
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