South African lender Capitec Bank has posted an impressive 30% rise in annual profit, fuelled by strong growth in net interest income as the bank continues to expand its footprint among low-income earners.
In its results for the financial year ending 28 February, Capitec announced that headline earnings — a key measure of profitability in South Africa — climbed to 13.7 billion rand (approximately $738.14 million), up from 10.6 billion rand the previous year.
“Our continued focus on simplifying banking and offering value-driven lending solutions is clearly resonating with South Africans,” the bank said in a statement.
Capitec also declared a final dividend of 44.25 rand per share, signalling confidence in its growth strategy and commitment to shareholder returns.
The bank remains one of South Africa’s fastest-growing financial institutions, steadily building its reputation as a go-to option for accessible and customer-centric banking.
Exchange rate: 1 USD = 18.5602 ZAR