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Capitec adds over 100 000 clients a month

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(Duncan Alfreds, Fin24)
(Duncan Alfreds, Fin24)

Cape Town - Capitec Bank [JSE:CPI] said on Tuesday that 648 000 new clients joined the bank in the past six months, compared to 561 000 in the previous six months.

In its unaudited financial results for the six months to end-August 2016, the bank attributed this growth largely to a combination of increased branch distribution in key malls, and a strong brand proposition of simplified banking and value for money. It now has 7.9 million active clients.

Headline earnings per share rose 19% to 1 517 cents. Earnings went up 19.4% to R1.8bn from R1.5bn a year ago. Solid growth from loan fee income and transaction fee income contributed to the strong year-on-year (y/y) increase.

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