Behind Capitec’s 70% profit plunge
As Covid-19 cuts short an unbroken 20-year run, is it time to start rating Capitec like any other boring bank stock?
09 July 2020 - 05:00
Capitec started 2020 safely ensconced as one of the rock star counters on the JSE.
Its share price was hovering near a record high of around R1,500; it had just added business banking to its repertoire with the acquisition of Mercantile Bank; and it was by far SA’s biggest bank by client numbers.
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