Gayton McKenzie accused of not understanding fashion industry after his meeting with Shein
Fashion designer David Tlale said he doesn’t think Gayton McKenzie understands the complexities of the clothing and textile industry.
Alongside a sharp rise in active customers, the profit increase reinforces its position as the country's largest retail bank by customer base.
Headline earnings per share, a key profitability metric in South Africa, rose to 8 billion rand ($464.37 million) for the six months ended August 31, from 6.4 billion rand in the same period last year.
The bank grew its client base to 25 million, up from 23 million a year ago. Net interest income after credit impairments rose by 27% to 7.1 billion rand, reflecting increased earnings from loans relative to interest paid on deposits.
Net non-interest income rose 19% to 13.4 billion rand.
“Our ability to leverage economies of scale, simplify transaction costs, and innovate across our offerings has made a meaningful difference for our clients while delivering strong financial results,” said Group CEO Graham Lee, who officially succeeded Capitec founder Gerrie Fourie in June 2025.
Loan disbursements grew by 40% during the period, supported by a 32% rise in personal banking loans and a 42% increase in business banking loans.
Capitec posted a 36% surge in income from value-added services and a 45% increase in net insurance income, driven by higher sales of funeral and life cover policies.
It declared an interim dividend of 26.20 rand per share, a 26% increase from 20.85 rand a year earlier.
