Capitec expects massive earnings boost

Capitec Bank says it expects headline earnings for the full year to 29 February 2020 to be as much as 21% higher than last year.

The group said in a trading statement on Friday (6 March), that it expects headline earnings per share will be between 5,401 cents and 5,538 cents per share, representing an increase of between 18% and 21% compared to the 4,577 cents per share reported in the prior year.

Earnings per share will be between 5,394 cents and 5,531 cents per share, representing an increase of between 18% and 21% compared to the 4,571 cents per share reported in the prior year.

In September 2019, the bank reported an 18% increase in operating profit before tax to R3.83 billion for the half year ended August 2019.

Headline earnings per share increased by 20% to R25.45 per share, from R21.28 per share in the prior corresponding period.

Headline earnings increased to R2.94 billion for the six month period ended August 2019 from R2.46 billion.

Dividends per share increased by 20% to 755 cents per share.


Read: Why Capitec launched a whole new banking app

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Capitec expects massive earnings boost