Why connected Capitec remains the racy outlier
From its days as a monoline microlender, Capitec has grown, and grown, and grown. And it seems there’s still no stopping it
02 May 2025 - 05:00
Capitec has once again beaten market expectations, hardly putting a foot wrong. It seems to merit, if that’s possible, its stratospheric 32 earnings multiple compared with the second most highly rated bank, FirstRand, at about 10.
There is no doubt Capitec is a racy outlier in the stodgy, slow-growth banking sector. Headline earnings increased by 28% to R13.5bn for the year to February 28 2025...
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