{"id":9408,"date":"2012-03-28T15:37:24","date_gmt":"2012-03-28T13:37:24","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/update-1-capitec-fy-profit-jumps-on-unsecured-credit-boom\/"},"modified":"2012-03-28T15:37:24","modified_gmt":"2012-03-28T13:37:24","slug":"update-1-capitec-fy-profit-jumps-on-unsecured-credit-boom","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-capitec-fy-profit-jumps-on-unsecured-credit-boom\/","title":{"rendered":"UPDATE 1-Capitec FY profit jumps on unsecured credit boom"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* FY diluted headline EPS up 50 pct<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Loan revenue jumps 49 pct<\/p>\n<p><span><\/span><\/p>\n<p>* Shares up 13 pct this year<\/p>\n<p> (Adds details)<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, March 28 (Reuters) &#8211; South African mass-market<br \/>\nlender Capitec Bank reported a 50 percent surge in<br \/>\nfirst-half earnings, lifted by strong demand for loans, and said<br \/>\nit would open 55 new branches this year.<\/p>\n<p><span><\/span><\/p>\n<p>Capitec has carved out a profitable niche by targeting<br \/>\nconsumers traditionally neglected by South Africa&#8217;s major banks.<br \/>\nThe lender offers higher-margin, unsecured loans usually over a<br \/>\nshort term.<\/p>\n<p><span><\/span><\/p>\n<p>Capitec&#8217;s bigger rivals have started to follow suit, and<br \/>\nanalysts now worry that debt-to-income ratios &#8211; already at a<br \/>\nstaggering 75 percent in South Africa &#8211; could worsen further.<\/p>\n<p><span><\/span><\/p>\n<p>The bank said diluted headline earnings per share totalled<br \/>\n1,099 cents in the year to end-February, from 730 cents a year<br \/>\nearlier.<\/p>\n<p><span><\/span><\/p>\n<p>Headline earnings, the main measure of profit in South<br \/>\nAfrica, exclude some one-time items.<\/p>\n<p><span><\/span><\/p>\n<p>Loan revenue grew by 49 percent to 5.7 billion rand ($750.56<br \/>\nmillion).<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* FY diluted headline EPS up 50 pct * Loan revenue jumps 49 pct * Shares up 13 pct this year (Adds details) JOHANNESBURG, March 28 (Reuters) &#8211; South African mass-market lender Capitec Bank reported a 50 percent surge in first-half earnings, lifted by strong demand for loans, and said it would open 55 new [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-9408","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9408","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=9408"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9408\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}