Capitec’s share price slumped to a 10-and-a-half month low as spiralling global inflation and interest rates worsened concern sparked earlier in September by the bank’s earnings guidance, which the market felt fell short of expectations.

The Stellenbosch-headquartered lender’s share price fell as much as 2.3% to R1,790, its lowest level since end-November 2021. It closed 2.2% down at R1,791.77, taking its fall since the September 8 trading statement to 5.7%. Year to date, Capitec lost 11.5% while the JSE banks index rose 4.1%...

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