Our website uses cookies to improve and personalise your experience and to display advertisements(if any). Our website may also include third-party cookies like Google Adsense, Google Analytics, and Youtube. By using the website, you consent to the use of cookies. We have updated our Privacy Policy. Please click on the button to check our Privacy Policy.

South Africa’s Capitec profit surges 84% as COVID woes ease

South Africa’s Capitec profit surges 84% as COVID woes ease

CAPITEC BANK reported an 84% rise in its annual profit, joining a slew of South African lenders who benefited from an upswing in performance as the impact from the COVID-19 fallout eases. South African banks took massive hits to their profit in recent years, mainly due to large credit impairment charges related to the health crisis and associated government lockdowns. Lenders are now returning to pre-pandemic levels of performance as restrictions ease. Profit at Capitec, the country's largest retail bank by customer numbers, surpassed 2019 levels in the year ended Feb. 28. Its headline earnings per share - the main profit…
Read More