Capitec faces down a long, dry season
Investors in SA’s most expensively priced bank may be set for a long period of minimal returns as bad debts leap 80%
27 April 2023 - 05:00
The market took a grim view of Capitec’s full-year results — its shares slid over 6% last week — yet a majority of analysts surveyed by Bloomberg aren’t recommending that shareholders dump their stock. The bank, still South Africa’s most expensive, is rated a “hold”.
That’s despite a stomach-churning 80% jump in credit losses as Capitec customers, especially in lower income brackets, struggle to make ends meet amid runaway food and transport costs. ..
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