Capitec Management
Management criteria checks 2/4
Capitec's CEO is Graham Lee, appointed in Jul 2025, has a tenure of 1.08 years. total yearly compensation is ZAR45.88M, comprised of 16.7% salary and 83.3% bonuses, including company stock and options. directly owns 0.009% of the company’s shares, worth ZAR49.96M. The average tenure of the management team and the board of directors is 1.3 years and 5.9 years respectively.
Key information
Graham Lee
Chief executive officer
R45.9m
Total compensation
| CEO salary percentage | 16.67% |
| CEO tenure | 1.1yrs |
| CEO ownership | 0.009% |
| Management average tenure | 1.3yrs |
| Board average tenure | 5.9yrs |
Recent management updates
Recent updates
Narrative Update • Jul 27
CPI: Higher Revenue Assumptions And Shareholder Meeting Will Support Bullish Outlook
Analysts have lifted their price target for Capitec Bank Holdings from ZAR5,050.94 to ZAR5,225.14, citing updated assumptions around revenue growth, profit margins and future P/E estimates. What’s in the News for Capitec Bank Holdings Capitec Bank Holdings has a Special or Extraordinary Shareholders Meeting scheduled for July 30, 2026, according to the company’s event calendar.
Narrative Update • Jul 13
CPI: Richer P/E Assumptions Will Sustain Excessive Share Pricing
Analysts have lifted their price target for Capitec Bank Holdings from ZAR3,881.06 to ZAR4,091.88, citing updated assumptions for revenue growth, profit margins and future P/E that modestly adjust their valuation model. What’s in the News for Capitec Bank Holdings Capitec Bank Holdings has scheduled a Special or Extraordinary Shareholders Meeting for Jul 30, 2026, according to key developments data.Narrative Update • Jun 29
CPI: Revised Assumptions Point To Stable Margins And Balanced Outlook
The analyst price target for Capitec Bank Holdings has been revised from ZAR4,930.25 to ZAR5,050.94, with analysts citing minor changes in fair value, discount rate, revenue growth, profit margin and future P/E assumptions to support the updated figure. What’s in the News for Capitec Bank Holdings No recent news stories for Capitec Bank Holdings are provided in the primary news source.Narrative Update • Jun 15
CPI: Higher P/E Assumptions Will Continue To Support Overpriced Shares
Analysts have adjusted their fair value estimate for Capitec Bank Holdings to ZAR3,881.06 from ZAR3,817.98, reflecting updated assumptions on revenue growth, profit margins and future P/E levels. What's in the News No recent company specific news items were provided in the supplied sources for Capitec Bank Holdings.
Narrative Update • Jun 01
CPI: Higher Profit Margins And Richer P/E Will Support Future Share Repricing
Analysts have lifted their price target for Capitec Bank Holdings from ZAR4,990 to ZAR5,686, citing updated assumptions that include a slightly lower discount rate, adjustments to revenue growth expectations, a higher profit margin, and a modestly higher future P/E multiple. Valuation Changes Fair Value: Updated from ZAR4,990 to ZAR5,686, indicating a higher central estimate for the stock.Narrative Update • May 17
CPI: Higher Margin And P/E Assumptions Will Sustain Overpriced Shares
Analysts have lifted their fair value estimate for Capitec Bank Holdings from ZAR3,417.99 to ZAR3,817.98, citing updated assumptions for discount rates, revenue growth, profit margins, and future P/E expectations. Valuation Changes Fair Value: Updated from ZAR3,417.99 to ZAR3,817.98, reflecting a higher central estimate of worth per share.Narrative Update • May 03
CPI: Earnings Guidance Will Drive Higher Margin Expectations And Bullish Outlook
Analysts have adjusted their price target for Capitec Bank Holdings from ZAR4,771.37 to ZAR4,930.25, citing updated assumptions for revenue growth, profit margins, and forward P/E multiples as key drivers of the change. What's in the News Capitec Bank Holdings issued group earnings guidance for the year ending 28 February 2026, covering both headline earnings per share and earnings per share.Narrative Update • Apr 19
CPI: 2026 Earnings Guidance Will Continue To Support Overpriced Shares
Analysts have nudged their price target for Capitec Bank Holdings slightly higher to ZAR3,418 from about ZAR3,416, reflecting updated assumptions around revenue growth, profit margins and future P/E levels. What's in the News Capitec Bank Holdings issued group earnings guidance for the year ending 28 February 2026, covering both headline earnings per share and earnings per share.Narrative Update • Apr 05
CPI: 2026 Earnings Guidance Will Likely Sustain Overpriced Share Levels
Analysts have made a small downward adjustment to the Capitec Bank Holdings price target to ZAR3,416 from ZAR3,446, reflecting updated assumptions around slightly higher revenue growth, a marginally lower profit margin and a modestly lower future P/E multiple. What's in the News Capitec Bank Holdings issued group earnings guidance for the year ending 28 February 2026, giving investors an early view of expected financial outcomes.Narrative Update • Mar 22
CPI: 2026 Earnings Guidance Will Likely Keep Shares Looking Overpriced
Analysts have adjusted their ZAR fair value estimate for Capitec Bank Holdings to ZAR3,445.76 per share, reflecting updated assumptions around revenue growth, profit margin and future P/E levels. What's in the News Capitec Bank Holdings issued group earnings guidance for the year ending 28 February 2026, giving investors an updated reference point for expected profitability.Narrative Update • Mar 08
CPI: Earnings Guidance Uplift Will Likely Keep Shares Looking Overpriced
Analysts have trimmed their price target for Capitec Bank Holdings slightly, with fair value moving from ZAR3,474.12 to ZAR3,445.76 as they factor in updated assumptions for discount rate, revenue growth, profit margin and future P/E. What's in the News Capitec Bank Holdings issued group earnings guidance for the year ending 28 February 2026, covering both headline earnings per share and earnings per share.Narrative Update • Feb 22
CPI: Earnings Guidance And Higher P/E Assumptions Will Shape Balanced Outlook
Analysts now put their fair value estimate for Capitec Bank Holdings at ZAR4,771.37, up from the previous ZAR4,647.92. This reflects updated assumptions about profit margins and future P/E levels, while the discount rate and revenue growth outlook remain broadly unchanged.Narrative Update • Feb 07
CPI: Revised Discount Rate And P/E Assumptions Will Shape Balanced Outlook
Analysts have reduced their fair value estimate for Capitec Bank Holdings from R4,671.17 to R4,647.92, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E levels. Valuation Changes Fair Value: Reduced slightly from ZAR 4,671.17 to ZAR 4,647.92 per share.Narrative Update • Jan 24
CPI: Higher Forecast Assumptions Will Likely Leave Shares Looking Overpriced
Analysts have raised their price target for Capitec Bank Holdings from R2,903.38 to R3,474.12, citing updated assumptions that include higher revenue growth, a slightly different discount rate, a modestly higher profit margin, and a lower future P/E multiple. Valuation Changes Fair Value Estimate: Adjusted from ZAR2,903.38 to ZAR3,474.12, reflecting a higher assessed intrinsic value per share.Narrative Update • Jan 09
CPI: Higher Future P/E Assumptions Will Support More Upbeat Outlook
Analysts have adjusted their price target for Capitec Bank Holdings from R4,368.07 to R4,671.17. This reflects updated views on slightly higher revenue growth, a modestly lower profit margin and a higher assumed future P/E multiple.Narrative Update • Dec 22
CPI: Higher Dividend Payouts Will Support A Stronger Future Share Repricing
Analysts have raised their fair value estimate for Capitec Bank Holdings from R4,440 to R4,990, citing slightly lower projected revenue growth and profit margins being more than offset by expectations of a higher future price to earnings multiple. What's in the News Directors declared a gross interim dividend of 2,620 cents per ordinary share for the six months ended 31 August 2025, up from 2,085 cents in 2024, reflecting a substantial year on year increase in shareholder payouts (company announcement).Narrative Update • Dec 08
CPI: Dividend Increase And Stable Risk Profile Will Support Balanced Outlook
Analysts have raised their price target for Capitec Bank Holdings slightly, reflecting an updated fair value estimate of R4,368.07 from R4,297.07. This change factors in marginally higher long term revenue growth expectations and a somewhat richer future earnings multiple, despite a broadly unchanged risk profile and profit margin outlook.Narrative Update • Nov 24
CPI: Higher Dividend And Margin Decline Will Support Balanced Outlook
Analysts have raised their price target for Capitec Bank Holdings from R4,143.19 to R4,297.07. They cite slight improvements in revenue growth expectations and a marginally lower discount rate as key drivers of this upward adjustment.Narrative Update • Nov 05
CPI: Dividend Increase And Profit Margins Will Support Fair Valuation
Analysts have raised their price target for Capitec Bank Holdings from R4,051 to R4,143, citing incremental improvements in expected revenue growth. This comes despite a slight dip in forecast profit margins and a modestly higher forward valuation multiple.Narrative Update • Oct 22
Analysts Adjust Capitec Valuation as Earnings and Dividend Forecasts Show Strong Growth
Analysts have marginally lowered their fair value estimate for Capitec Bank Holdings from R4,056.86 to R4,050.97. This change reflects subtle adjustments to expectations for revenue growth, profit margins, and valuation multiples.Narrative Update • Oct 08
Business Banking And VAS Expansion Will Open New Markets
Narrative Update on Capitec Bank Holdings The analyst price target for Capitec Bank Holdings has increased from R3,925.59 to R4,056.86. This change reflects a higher expected revenue growth rate and an updated outlook from analysts.Narrative Update • Sep 04
Business Banking And VAS Expansion Will Open New Markets
With both Capitec Bank Holdings' Future P/E and Net Profit Margin remaining stable, analysts have kept their consensus price target unchanged at ZAR3926. What's in the News Capitec Bank Holdings expects group headline earnings per share for the six months to 31 August 2025 to increase by 22% to 27% versus the prior period, reaching 6,764–7,041 cents.
New Narrative • Nov 07
Digital Expansion And Diversification Propel Revenue Growth While Navigating Global Uncertainties
Diversification into insurance, mobile services, and business banking is expected to enhance income sources and boost net margins over time.CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Feb 28 2026 | R46m | R8m | R17b |
Compensation vs Market: Graham's total compensation ($USD2.81M) is about average for companies of similar size in the ZA market ($USD3.24M).
Compensation vs Earnings: Insufficient data to compare Graham's compensation with company performance.
CEO
Graham Lee (51 yo)
1.1yrs
Tenure
R45,882,000
Compensation
Mr. Graham Roy Lee, B.Bus.Sci., CGMA, M.B.A., is CEO & Executive Director of Capitec Bank Limited from July 19, 2025. He is CEO & Executive Director of Capitec Bank Holdings Limited from July 19, 2025. Mr....
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director | 1.1yrs | R45.88m | 0.0089% ZAR 50.0m | |
| CFO, Financial Director & Executive Director | 4.1yrs | R43.48m | 0.0048% ZAR 26.7m | |
| Chief Information Officer | less than a year | no data | no data | |
| Head of Compliance | 1yr | no data | no data | |
| Executive of Marketing & Communications | 10.2yrs | no data | 0.026% ZAR 143.1m | |
| Head of Marketing | no data | no data | no data | |
| Executive of Human Resources | no data | no data | 0.0063% ZAR 35.2m | |
| Head of Service Support | no data | no data | no data | |
| Head of Solutions Delivery & Academy - Technology Services | no data | no data | no data | |
| Head of Mercantile Rental Finance | no data | no data | no data | |
| Chief Data Officer | 1.6yrs | no data | no data | |
| Product Head | no data | no data | no data |
1.3yrs
Average Tenure
43.5yo
Average Age
Experienced Management: CPI's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director | 1.1yrs | R45.88m | 0.0089% ZAR 50.0m | |
| CFO, Financial Director & Executive Director | 4.1yrs | R43.48m | 0.0048% ZAR 26.7m | |
| Non-Independent Non-Executive Director | 25.4yrs | R686.00k | 11.36% ZAR 63.7b | |
| Independent Non-Executive Chairman | 7.2yrs | R6.64m | 0.0010% ZAR 5.7m | |
| Lead Independent Director | 5.9yrs | R1.82m | no data | |
| Non-Independent Non Executive Director | 18.8yrs | R1.29m | 6.13% ZAR 34.4b | |
| Independent Non-Executive Director | 5.9yrs | R1.83m | no data | |
| Independent Non-Executive Director | 5.9yrs | R2.03m | 0.00060% ZAR 3.4m | |
| Independent Non-Executive Director | 2.9yrs | R2.49m | no data | |
| Independent Non-Executive Director | 1.4yrs | R1.79m | no data | |
| Independent Non-Executive Director | 2.9yrs | R1.55m | no data |
5.9yrs
Average Tenure
53yo
Average Age
Experienced Board: CPI's board of directors are considered experienced (5.9 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/08/06 01:27 |
| End of Day Share Price | 2026/08/05 00:00 |
| Earnings | 2026/02/28 |
| Annual Earnings | 2026/02/28 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
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Analyst Sources
Capitec Limited is covered by 16 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Ilan Stermer | Anchor Stockbrokers Proprietary Limited |
| Jaap Meijer | Arqaam Capital Research Offshore S.A.L. |
| Adrienne Damant | Avior Capital Markets |