Impressive financial results for Capitec – delivers R16.8 billion in headline earnings
Capitec has published its financial results for the year ending February 2026, revealing impressive growth for South Africa’s largest bank.
Headline earnings were up by 23% to R16.8 billion. Furthermore, Capitec surpassed 26 million clients – a testament to Capitec’s continued focus on expanding its business in South Africa.
“Our results were achieved without deviating from the fundamental principles upon which Capitec was founded over 25 years ago,” said Group CEO Graham Lee.
“We continued to earn and deepen the trust of more than 26 million active clients by delivering simple, transparent and affordable financial solutions at scale.”
Organisation-wide growth
Capitec’s success is down to excellence across all its core business units.
Capitec’s evolution into a diversified financial services group reflects a deliberate strategy to deepen relationships with clients across more parts of their financial lives. Non-interest income remained 67% of income from operations after credit impairments, reflecting how meaningfully the Group’s earnings mix has evolved. Key growth metrics across Capitec’s core business units included:
- Capitec Business Banking – advanced loans up 48%
- Avafin – advanced loans up 62%
- Capitec Insurance – Net insurance income up 38%
- Capitec Value-Added Services and Capitec Connect – Non-interest income up 38%
- Banking app clients – Up 19% to 15.3 million.
As a result of this organization-wide growth, Capitec’s return on ordinary shareholders’ equity was 31% – up from 29% in 2025.
The secret to Capitec’s success
According to Lee, Capitec’s continued success is thanks to its client-first approach.
“Our client-first approach is grounded in simplicity, accessibility, affordability and personalised experiences, and extends beyond traditional banking into the moments that make a meaningful difference in our clients’ daily lives,” he said.
The recent launch of self-service terminals at over 86 branches is an example of this.
These terminals make it easy for clients to obtain Smart IDs, and since the inception of this service in March 2026, 71,000 Smart ID applications have already been processed.
Furthermore, thanks to “economies of scale across the Group,” Capitec returned R1 billion directly to clients through reduced fees, lower pricing for Capitec Connect, cash back for using the Capitec Credit Card, and Live Better rewards.
According to Lee, Capitec’s focus remains on growing its business responsibly.
“In the short term, our focus will be on driving growth by expanding our payments ecosystem and embedded financial solutions,” they said.
“The cornerstones of our strategies for the future are applying the fundamentals that have made Capitec a success to our developing businesses, embodying the Capitec culture in everything we do and maintaining the trust that our clients have in us.”
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