The 2026 financial year appears to have been one of growth for Capitec, with the bank expecting its headline earnings per share (Heps) to rise by more than 25%.
In terms of the Listings Requirements of the JSE Limited, a listed company is required to publish a trading statement as soon as it is satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported on next will differ by 20% or more from those of the previous comparable period.
In a trading statement released on Wednesday afternoon, Capitec said it expects its headline earnings to be between 14 294 cents and 14 890 cents per share. This forecast places the group’s total headline earnings between R16.5 billion and R17.2 billion.
ALSO READ: Capitec moves to keep banking fees the same: Here’s what other banks are charging
Capitec shoots lights out
The bank’s earnings forecast represents a 20% to 25% increase over the 11 912 cents per share for the previous financial year.
Group headline earnings per share (heps) is calculated similarly but excludes certain one-off or non-operational items, such as profits or losses from asset sales, to provide a clearer picture of the group’s core operating performance.
Heps helps investors compare performance over time and across companies without being misled by one-off gains or losses.
Capitec becomes most valued bank
The market responded positively to Capitec’s growth, with its market capitalisation reaching R535.85 billion by 17:15 on Wednesday.
This means Capitec has once again overtaken FirstRand as the country’s most valued bank. FirstRand, parent company to FNB, Wesbank, among others, has a market capitalisation of R535.03 billion.
Market capitalisation is the total value of a company’s shares on the stock market. This shows how big or valuable the market thinks the company is. It is calculated by multiplying the share price by the total number of outstanding shares.
ALSO READ: Standard Bank pockets R24 billion in six months, while Capitec eyes earnings to surge above 22%
What 2026 looked like
The bank said its financial year 2026 was characterised by strategic decisions aimed at strengthening the group’s long-term value proposition and positioning the business for sustainable growth.
“In March 2025, Personal and Business banking implemented a simplified fee structure, which included reductions in transaction fees and lower prices for merchant POS devices,” said the Stellenbosch-based lender.
Capitec reached a new milestone in October 2025, with more than 25 million active clients.
“The bank delivered continued growth in its client base and an increase in transaction volumes,” it said.
People taking out more loans
Capitec noted that the introduction of new credit offerings, including purpose loans and loans designed for clients with multiple sources of income, together with continued growth in the credit card client base, led to an increase in loan disbursements and lending income in Personal banking.
“The provision for expected credit loss coverage ratio moved in line with the improved quality of the loan book,” said the bank.
“As loan disbursements grew, the income generated from associated credit life insurance products increased accordingly. In addition, there was an increase in the number of active funeral and life cover policies taken up, which contributed to higher sums assured and an increase in net insurance income.”
The financial results for the year ending 28 February 2026 are expected to be published on 22 April 2026.
About the Author
