Capitec Bank has once again delivered a strong set of financial results for the year to February 2026, supported by solid earnings growth, an expanding client base, and increased uptake of its credit and savings products.
Headline earnings leapfrogged by 23% to R16.8-billion, up from R13.7-billion in the previous financial year.
Profit for the year was up 18% to R11.7-billion, supported by 18% growth in personal banking and 11% growth in business banking.
This performance was also due to a balanced increase in income streams, with net income rising 18% to R14.1-billion and non-interest income, including transactions, Capitec Connect, and insurance, increasing by 19% to R28.3-billion.
Capitec CEO Graham Lee said the composition of income reflects the group’s evolving business model.
“If you look at the balance between those, the proportions, just over two thirds of all of our income from operations comes from the non-interest side,” said Lee.
Capitec’s client base grew by 7% to 26-million; this includes 25.2-million personal banking clients, 78 000 entrepreneurs following the launch of its business banking offering in December, and 247 000 clients from AvaFin.
The bank also reported a 21% increase in high-income clients earning R50 000 or more.
Credit cards increased by 32% with 110 000 new credit clients added, while growth among younger customers surged by 147%.
Lee attributed part of this growth to its competitive travel offering, which includes no international fees and no foreign exchange margins.
Unpredictable global environment
Lee said savings products also showed impressive performance, with balances increasing by R15-billion and clients earning R858-million in interest over the period.
He said the bank continues to operate in an unpredictable global environment but remains focused on resilience.
“This feels a little bit like every year when we are giving our annual results presentation, something significant has just happened in the world. Whether it is a war, a special operation, [or] a global pandemic.
“There always seems to be a curveball that is bound to happen, and the truth is it will always be volatile.
“Our environment will always be uncertain around us, and there will be ambiguity out there in the world. But here at Capitec, we are not uncertain.
“What we need to work on together is not ambiguous; we are a resilient company and we are resilient by design.
“We build resilience each and every year, and we make our choices deliberately to build that resilience.
‘We build our business model to be able to take all shocks and still serve our clients well despite them,” said Lee.
Visit SW YouTube Channel for our video content
- Capitec Bank reported a 23% increase in headline earnings to R16.8 billion for the year ending February 2026, driven by strong earnings growth, a larger client base, and higher credit and savings product uptake.
- Profit rose 18% to R11.7 billion, supported by 18% growth in personal banking and 11% growth in business banking, with net income up 18% to R14.1 billion and non-interest income up 19% to R28.3 billion.
- The client base grew 7% to 26 million, including 25.2 million personal banking clients, 78,000 entrepreneurs, and 247,000 AvaFin clients; high-income clients increased by 21%.
- Credit cards saw 32% growth with 110,000 new clients, largely driven by younger customers' 147% growth and a competitive travel offering with no international or foreign exchange fees.
- Despite global uncertainties, Capitec emphasizes its resilience by design and focus on building a business model capable of enduring shocks while continuing to serve clients effectively.
Capitec
Profit for the year was up 18% to R11.7-billion, supported by 18% growth in personal banking and 11% growth in business banking.
Capitec CEO Graham Lee said the composition of income reflects the group’s evolving business model.
“If you look at the balance between those, the proportions, just over two thirds of all of our income from operations comes from the non-interest side,” said Lee.
Capitec’s client base grew by 7% to 26-million; this includes 25.2-million personal banking clients, 78 000 entrepreneurs following the launch of its business banking offering in
Credit cards increased by 32% with 110 000 new credit clients added, while growth among younger customers surged by 147%.
Lee attributed part of this growth to its competitive travel offering, which includes no international fees and no foreign exchange margins.
Lee said savings products also showed impressive performance, with balances increasing by R15-billion and clients earning R858-million in interest over the period.
He said the bank continues to operate in an unpredictable global environment but remains focused on resilience.
“
"
“Our environment will always be uncertain around us, and there will be ambiguity out there in the world. But here at Capitec, we are not uncertain.
"What we need to work on together is not ambiguous; we are a resilient company and we are resilient by design.
"We build resilience each and every year, and we make our choices deliberately to build that resilience.
'We build our business model to be able to take all shocks and still serve our clients well despite them," said Lee.
