Capitec flags half-year earnings jump
SA’s biggest bank by customer numbers says half-year earnings to surge, but cautions on third wave
Capitec, SA’s biggest bank by number of customers, has advised shareholders to expect a stellar rise in half-hear earnings as its operations bounced back strongly from a difficult 2020 that was heavily affected by the Covid-19 pandemic.
The lender said half-year earnings will be more than R3.3bn in the six-months to end-August 2021, representing an increase of 292% compared with the R841m earned in the corresponding period the previous year, according to a Friday trading update. Headline earnings per share (Heps) will be more than 3,372c, an increase of at least 500%, compared with the 562c per share reported in the previous half-year period ended August 31 2020. Heps is a widely used profit measure in SA that strips out one-off items...