Capitec firing on all cylinders

Capitec expects to report another bumper performance for the first half of its 2027 financial year, with earnings growth of up to 20%.

This comes as the bank reached another customer milestone, now boasting 26 million personal banking clients.

This was revealed in a trading statement released on Thursday, 10 September 2026. In this statement, Capitec outlined its expected earnings for the six months through August 2026.

The banking giant expects the following changes to its earnings compared to the first half of the 2026 financial year:

• Headline earnings per share between 8,215 and 8,354 cents – an 18% to 20% increase
• Earnings per share between 8,174 and 8,312 cents – an 18% to 20% increase

Capitec said this growth was supported by a continued expansion of its business activities during the six-month period.

“Net transaction and commission income growth was underpinned by the continued expansion and optimisation of the active client base,” Capitec said.

The bank also revealed that Personal Banking clients grew to more than 26 million, up from 25 million at the end of the 2026 financial year.

It said volume growth was supported by higher average transaction values, with particularly solid growth in card transactions. 

The group’s Business Banking segment is also performing well, showing substantial growth in active clients as well as lending and transactional volumes. 

“The number of point-of-sale merchants and the use of Capitec Pay continued to grow,” Capitec said.

“Increased transaction frequency per client, together with higher average transaction values, contributed to continued growth in income from Value-Added Services.”

Capitec also recorded sustained growth in Personal Banking lending income, which it said came despite economic conditions that placed pressure on client affordability and loan disbursements. 

“The forward-looking macroeconomic credit impairment charge grew due to the latest economic scenarios, while book quality was maintained,” it said. 

“Business Banking lending income was driven by robust scored and intuitive credit granting.” 

“Business lending activity resulted in a higher upfront credit impairment charge, and the forward-looking macroeconomic credit impairment charge also increased, similar to the Personal Bank.”

Capitec added that its Credit Life and Funeral Cover insurance products performed well, supported by lower claims ratios and growth in investment income.

“Group operating expenses remained well-controlled, led by technology-driven efficiencies, supporting profitability and returns,” it said.

Capitec’s results for the six months through August 2026 will be released on 30 September 2026.