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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