Capitec Bank has delivered an impressive financial performance, reporting a 23% increase in headline earnings to R16.8 billion for the financial year ending February 2026.
The growth was largely fuelled by strong gains in interest income, supported by favourable interest rate conditions throughout 2025. Despite rising geopolitical tensions, particularly in the Middle East, CEO Graham Lee remains confident in the bank’s ability to maintain its upward trajectory.
A standout driver behind the results has been increased credit card usage, alongside the bank’s zero-fee international offering, which has gained traction among customers. Lee expressed optimism about continued credit demand, noting that South Africa’s economy had shown encouraging signs of recovery before global tensions began to escalate.
While acknowledging potential economic pressure in the months ahead, Lee emphasised that challenging conditions often create new opportunities.
“In difficult times, there are many opportunities,” he said, pointing to growing demand from both businesses seeking funding and consumers looking for greater value from their banks.
Beyond traditional banking, Capitec continues to expand its footprint through diversification. The bank reported 38% growth in both insurance and fintech income, while its mobile network offering, Capitec Connect, has reached 1.5 million active users.
Its business banking division is also gaining momentum, with client numbers rising by 71% to 456,000, reflecting increased confidence among small and medium-sized enterprises.
Lee, who took over from former CEO Gerrie Fourie nine months ago, described the role as both demanding and rewarding. He credited the bank’s success to a strong internal culture, highlighting alignment, shared values and teamwork as key drivers behind its continued growth.
As global uncertainties persist, Capitec’s latest results position it as one of South Africa’s standout financial performers — balancing resilience with strategic expansion in a shifting economic landscape.
This article was originally posted by the Business Report
