A 22% rise in customer growth has given Capitec a boost. As a result, the lender has reported a 19% rise in annual headline earnings. The bank is, however, an outlier in terms of its growth given that its peers have only managed low-single-digit growth. The SA Reserve Bank has, in the meantime, called on all banks to shore up their balance sheets.
Business Day TV spoke to Gerrie Fourie, CEO of Capitec and Patrice Rassou, chief investment officer and banking analyst at Ashburton Investments for an analysis of where the sector is headed following the Covid-19 outbreak.
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