Earnings call transcript: Capitec Bank lifts H1 2026 earnings 19% on broad growth

Capitec Bank reported a 19% increase in first-half 2026 earnings, reaching ZAR 9.5 billion. The growth was driven by an expanding client base, higher fee income, and controlled cost growth. Non-interest income grew by 21% to ZAR 16.1 billion, making up 70% of operating income. Client base reached 26.6 million, a 7% increase year over year.

Operating expenses rose by 5%. Credit loss ratio increased but was attributed to proactive provisioning and product mix changes. Capitec's diverse income sources, including personal banking, fintech, insurance, and business banking, contributed to its strong performance during a mixed economic backdrop. The bank expects loan book growth to continue, albeit at a slower pace due to macroeconomic challenges.