Is ‘phenomenal’ Capitec still a good buy?
The bank divides investors into die-hard believers and naysayers. But its backers believe it will continue to deliver
It is Capitec’s second lockdown quarter that the market has chosen to focus on, after a 78% drop in first-half headline earnings to end-August prompted a rally in the bank’s share price last week.
"In our first three months to May there was almost no economic activity," says Capitec CEO Gerrie Fourie, "and we made a R404m loss. But there was enough of a recovery in June, July and August to bring interim earnings up to R650m."