JOHANNESBURG, April 22 (Reuters) - South African lender Capitec Bank reported on Wednesday a 23% rise in full-year profit as interest income rose by double digits as its customers borrowed more money.
Capitec, with more than 26 million active clients, said its headline earnings, a key profit measure in South Africa, rose to 16.8 billion rand ($1.02 billion) in the year ended on February 28, from 13.7 billion rand in the same period last year.
Here are more details of the financial results.
o Net interest income jumped 19% to 24.1 billion rand, as interest income on lending grew by 14%.
o Total loan disbursements grew by 34% to 98.3 billion rand.
o The group's net credit impairment charge on loans and advances increased by 21%.
o Its credit loss ratio - a measure of bad loans against total loans - increased from 7.5% to 8.1%.
o The group achieved a return on equity of 31% compared to 29% in 2025.
o Capitec declared a final dividend of 53.60 rand per share, up from 44.25 in the previous year.
($1 = 16.4795 rand)
(Reporting by Nqobile Dludla; Editing by Tom Hogue and Kim Coghill)
