Capitec expects massive jump in earnings
·6 Mar 2017
Banking group Captiec is expecting a 17% to 19% jump in headline earnings for the full year ended February 2017.
In a voluntary statement published on Monday (6 March) the bank said that it expects headline earnings per share to be between 3,233 cents and 3,317 cents per share, representing an increase of between 16% and 19% compared to the 2,787 cents per share reported in the prior year.
Shares in Capitec have climbed by 300% 2014, with the bank reporting that it is seeing about 120,000 new customers signing up every month.
In afternoon trade, Capitec’s shares were up R4.51 or 0.62% to R736.51.
The group’s financial results for the year ended 28 February 2017 are expected to be published on or about 28 March 2017.
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