Capitec’s headline earnings grew to R6.28 billion in 2020 financial year versus R5.29 billion in 2019.
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Gugu Mfuphi talks to Gerrie Fourie, Capitec Ceo about Capitec’s headline earnings grew to R6.28 billion in 2020 financial year versus R5.29 billion in 2019.
The company’s return on shareholders’ equity remained consistent at 28% for the 2020 financial year.
“Our client base grew by 22% to 13.9 million active clients (2019: 11.4 million). On average 200 000 clients joined us per month during the year.”
The total remuneration for Gerrie Fourie, Capitec boss, has been reduced by R22 million to R72 million in 2020 financial year.
The banking group revealed in its 2020 annual report that Fourie’s total remuneration was R72 million versus R94.9 million in 2019.
Capitec Bank revealed today that it has signed up more than 1.5 million new customers for the year end-February 2020.
On Thursday, Capitec confirmed that its credit insurance covers a temporary loss of (or reduction in) income as a result of the lockdown and state of national disaster. It said that it also negotiated with its credit insurance provider for additional coverage to help those facing retrenchment or forced unpaid leave for an extended period.
Capitec requires credit insurance for credit cards and loans that stretch over seven months or more.
If a client loses her entire income, instalments will be paid for twelve months, or the remaining period of the loan, or until she can earn an income again, whichever is the shorter period.
But if the client loses 60% of her income, the credit insurance will cover only 60% of the instalments.
The company’s return on shareholders’ equity remained consistent at 28% for the 2020 financial year.
“Our client base grew by 22% to 13.9 million active clients (2019: 11.4 million). On average 200 000 clients joined us per month during the year.”
The total remuneration for Gerrie Fourie, Capitec boss, has been reduced by R22 million to R72 million in 2020 financial year.
The banking group revealed in its 2020 annual report that Fourie’s total remuneration was R72 million versus R94.9 million in 2019.
Capitec Bank revealed today that it has signed up more than 1.5 million new customers for the year end-February 2020.
On Thursday, Capitec confirmed that its credit insurance covers a temporary loss of (or reduction in) income as a result of the lockdown and state of national disaster. It said that it also negotiated with its credit insurance provider for additional coverage to help those facing retrenchment or forced unpaid leave for an extended period.
Capitec requires credit insurance for credit cards and loans that stretch over seven months or more.
If a client loses her entire income, instalments will be paid for twelve months, or the remaining period of the loan, or until she can earn an income again, whichever is the shorter period.
But if the client loses 60% of her income, the credit insurance will cover only 60% of the instalments.
