Capitec expects profit to drop 20% due to Covid-19
The bank says transaction volumes have been considerably lower under the national lockdown and it is looking forward to moving to level 3
Capitec, SA’s sixth biggest bank by total assets, expects a double-digit hit to its profits as the impact of Covid-19 lingers.
The lender said it expects headline earning to tumble 20% for the six months to end-August 2020, with the lockdown affecting the business from the end of March, its first month of the 2021 financial year. ..