CAPITEC’S annual remuneration report for 2023 was released on 18 April 2023 – revealing how much the bank’s top execs earned over the last financial year.
In its financial results for the full year ending 28 February 2023, Capitec showed strong growth despite the challenging environment within South Africa.
Headline earnings were up 15% to R9.7 billion from R8.4 billion the year before.
Income from operations grew 12% to R30.3 billion for the period, with net income up only marginally (2%) to R24 billion. The main contributor to the reduction in income came from credit impairments, which grew 80% to R6.3 billion.
The group declared a final dividend of 2,800 cents, taking the total dividend for the year to 4,200 – also up 15% in line with the group’s growth.
The bank also saw a significant jump in its client base, recording 20.1 million customers at the end of February 2023. This
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