BUSINESS OF BANKING: What you need to know about Capitec
Capitec Bank’s share price slid more than 4 percent in early morning trading on the JSE yesterday after it said in a trading statement that it expected its headline earnings per share (Heps) to increase by between 17 and 20 percent for the year to end February.
Capitec said its Heps would be between 4514 cents a share and 4630c, up from the 3858c that was reported last year.
The group also said it expected its earnings per share to increase by a similar margin. “Earnings per share will be between 4510c and 4626c, representing an increase of between 17 and 20 percent compared to the 3855c that was reported in the prior year,” the group said.
The financial results are expected to be released on or about March 28. Last month, Capitec Bank said it had experienced its highest single-month uptake to date, with more than 266 000 new clients joining the bank in January.
The institution also revealed that more than 4 million people were now making use of its banking app. Capitec shares closed 3.62 percent lower at R1252.88 on the JSE yesterday.
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