Capitec Bank Holdings Full Year 2023 Earnings: Revenues Disappoint

Simply Wall St

April 21, 2023

Capitec Bank Holdings (JSE:CPI) Full Year 2023 Results

Key Financial Results

Revenue: R24.0b (up 2.6% from FY 2022).
Net income: R9.70b (up 14% from FY 2022).
Profit margin: 41% (up from 37% in FY 2022). The increase in margin was primarily driven by lower expenses.
EPS: R84.15 (up from R73.71 in FY 2022).

CPI Banking Performance Indicators

Cost-to-income ratio: 39.0% (down from 47.0% in FY 2022).
Non-performing loans: 20.02% (up from 17.55% in FY 2022).

earnings-and-revenue-growth — JSE:CPI Earnings and Revenue Growth April 21st 2023

All figures shown in the chart above are for the trailing 12 month (TTM) period

Capitec Bank Holdings Revenues Disappoint

Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) was mostly in line with analyst estimates.

Looking ahead, revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Banks industry in Africa.

Performance of the market in South Africa.

The company's shares are down 8.0% from a week ago.

Risk Analysis

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.