Capitec's earnings leap 26% as client base rockets past 25 million
Capitec has done it again. The bank that built its reputation on simplicity and affordability now counts 25 million clients - more than half of South Africa’s adult population - and delivered a 26% jump in headline earnings to R8 billion for the six months to August 2025.
Group CEO Graham Lee says the growth comes from listening closely to clients and cutting unnecessary costs.
“With 25 million clients, we can keep fees low, keep innovating, and give people real value in their daily lives.”
The numbers that matter
Headline earnings: up 26% to R8bn
Return on equity: 31% (one of the highest in banking)
Non-interest income: up 19% to R13.4bn
Fintech (Capitec Connect + VAS): up 40% to R2.9bn
Business Banking: now serving 182,000 companies (+57%)
Winning over the youth - and higher income earners
Capitec isn’t just the go-to for students and first-time bankers anymore.
Twelve million clients are under 35, giving the bank 58% of the youth market.
Clients earning R50 000+ a month grew by 24%, showing that Capitec is gaining traction among professionals and higher-income earners.
Beyond banking: insurance, fintech and SMEs
The bank’s ecosystem keeps expanding:
Insurance now covers 15.8 million lives, up 16% in a year.
Capitec Connect SIMs passed 1.1 million active userss.
AvaFin, Capitec’s international lending arm, is growing fast across Europe and Mexico.
Business banking is catching on, with 85,000 SMEs using Capitec card machines - a 165% jump in a year.
New products with everyday impact
Over the past six months, Capitec has rolled out solutions aimed at making life easier:
Instant cross-border transfers to 8 African countries via the app.
A youth-focused credit card to help build credit histories responsibly.
Flexible loans allow SMEs and households with multiple incomes to borrow more sustainably.
Smartphone delivery via the app, with free Capitec Connect data.
Savings passed back to clients
Capitec also simplified its transaction fees into R1, R2, R3, R6, and R10 structures, giving back R203 million in savings over six months. Clients were also rewarded with 449 terabytes of free data, while small businesses benefited from lower merchant fees and discounted card machines.
Looking ahead
With its 25th anniversary around the corner, Capitec says the focus is on making banking more human - from AI tools that stopped R200m in scams, to in-app calling that saved clients R5m in airtime.
Lee sums it up:
“Banking shouldn’t be complicated. We’re building simple, affordable tools that work for everyone — from students to CEOs.”
Capitec’s latest results show how a bank that started by cutting queues and lowering fees is now reshaping everything from insurance to fintech while staying rooted in its promise to make money simple.