Capitec reports 23% earnings increase as client base reaches 26-million

The Stellenbosch-based bank's diversification strategy reduces reliance on lending as non-interest income grows.

Capitec Bank Holdings reported headline earnings of R16.8-billion for the financial year ended February 2026, a 23% increase from R13.7-billion the previous year, as its active client base grew to more than 26-million.¹³ Headline earnings per share rose 23% to R146.06, while operating profit before tax increased 25% to R22.18-billion.¹

The bank declared a final dividend of R53.60 per share, bringing the total dividend to R79.80, up 23% year-on-year.¹ Return on equity reached 31%.³⁴

Total active personal banking clients grew 7% to 25.2-million, while fully banked clients increased 12% to 9.9-million, representing 39% of the active client base.¹ Business banking clients also expanded, with business banking loan disbursements rising 48%.¹

Net interest income increased 19% to R24.1-billion, driven by 27% growth in personal banking and 48% growth in business banking loan disbursements.¹ Total loan disbursements grew 34% to R98.3-billion.¹ The bank attributed the growth to data analytics informing targeted offers in personal banking and scored lending in business banking.¹

The group's revenue composition has shifted significantly. Personal banking now contributes 41% of headline earnings, with insurance at 27%, fintech services including Capitec Connect at 26%, and business banking at 5%.³⁴ Non-interest income represents 67% of income from operations after credit impairments.⁵

Capitec CEO Graham Lee said the results reflected 25 years of staying focused on what matters most: making banking simpler, more accessible and more affordable for our clients.⁵ The bank returned R1-billion to clients over the past year through lower fees, pricing adjustments, cashback and rewards.⁵

The bank emphasized investments in fraud prevention, data analytics and artificial intelligence to strengthen client protection.³⁴ Lee stated the bank was approving more because we know our clients better, not because we have lowered the bar.¹

Capitec's short-term focus will be expanding its payments ecosystem and embedded financial solutions.¹