Q&A: CEO says Capitec has done better than expected in six months to August

Gerrie Fourie shares his thoughts and is encouraged by his bank being ‘the biggest digital bank in SA’In an earnings report that laid bare the impact of the pandemic-induced distress on household finances, Capitec this week reported a 78% plunge to R650m in half-year earnings and set aside R4.3bn to cover potential losses from future skipped consumer loan repayments.

Business Day financial services writer Warren Thompson asked CEO Gerrie Fourie to share his thoughts about Capitec’s performance in the six months to the end of August. We’ve done better than expectations. If I look at the first prediction we made in April, we have done better. If you look on the transactional side, the operational income before credit impairments is up 10%, which I think is quite strong. So the transactional side has done exceptionally well.

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