Capitec Trading Statement Flags 18%–20% EPS Growth

In Short

• Capitec said earnings per share and headline earnings per share should rise 18% to 20% year on year for the six months ended 31 August 2026.
• The bank linked the expected lift to growth across business lines, controlled costs, and technology-driven efficiencies.
• Interim results are expected around 30 September 2026.

What Happened

Capitec released a trading statement, a market update that gives investors an early view of expected earnings. Capitec guided that headline earnings per share should be between 8,215 cents and 8,354 cents. That is up from 6,962 cents in the prior comparable period.

It also said earnings per share should be between 8,174 cents and 8,312 cents. That compares to 6,927 cents a year earlier.

Management said the performance came during elevated inflation and a higher repo rate, which is the benchmark interest rate set by the central bank. It pointed to growth in net transaction and commission income, supported by more active clients and higher average transaction values.

Personal Banking clients grew to more than 26 million, with solid growth in card transactions. Business Banking also grew, including lending and transactional volumes. Capitec said point-of-sale merchant numbers and the use of Capitec Pay continued to increase.

On lending, Capitec said personal lending income kept growing, even as affordability pressures and loan disbursements faced tougher conditions. It added that credit impairment charges increased due to forward-looking macroeconomic scenarios, while overall book quality was maintained.

Why It Matters

Capitec’s update suggests it is still growing fee income from everyday banking activity, even when interest rates and inflation are high. That matters for banks across Africa because transaction-led income can be more stable than relying only on loan growth.

It also highlights a common strategy in modern banking, using software and automation to keep operating expenses under control. For operators and fintech builders, it is a reminder that cost efficiency and payments adoption are now core to bank profitability.

Capitec said the figures have not been reviewed or reported on by its auditors. The full interim results are expected on or about 30 September 2026.