Capitec Bank has delivered a strong set of full-year results, reporting a 23% increase in headline earnings to R16.8 billion for the financial year ended February 2026.
This performance confirms its continued evolution from a retail bank into a diversified financial services group.
The bank achieved an impressive return on equity (ROE) of 31% and now serves 25.8 million active clients (often rounded to 26 million in reporting).
This reflects sustained growth in both scale and customer trust, with Capitec now serving over half of South Africa’s adult population.
A New Chapter in Leadership and Strategy
CEO Graham Lee, who succeeded Gerrie Fourie, noted that the performance reflects the bank’s long-standing focus on simplicity, affordability, and accessibility.
“We really want people to get real benefit from us and our services, and that’s most true of those fully banked clients,” Lee stated, highlighting a shift toward deepening relationships rather than just acquiring new users.
Diversification Beyond Banking
Capitec’s transition into a fintech and insurance powerhouse is gaining significant momentum. The bank’s income mix has evolved to the point where non-interest income remains a massive contributor to operations.
Key Growth Drivers in FY2026:
- Fintech & Value-Added Services (VAS): Income from VAS and Capitec Connect grew 38% to R6.1 billion.
- Insurance: Net insurance income also increased 38% to R5.2 billion.
- Insurance Adoption: Funeral cover has reached 16.6 million lives, while the newer Life Cover product saw a staggering 129% growth, reaching 221,000 policies.
- Net Interest Income: After credit impairments, interest income rose 18% to R24.1 billion.
Using Scale to Enhance Client Value
True to its “Live Better” philosophy, the bank returned more than R1 billion in value to clients through lower fees, reduced pricing, and rewards.
Specifically, the bank saved customers R330 million through lower Capitec Connect data prices and R228 million through fee simplifications introduced in early 2025.
READ ALSO:How Capitec Bank Launched Smart ID Services Across Seven Branches
Capitec Connect: The MVNO Leader
Capitec Connect has solidified its position as South Africa’s largest Mobile Virtual Network Operator (MVNO).
- 1.5 million active users (on a three-month basis), up 67% from the previous year.
- 3 petabytes of free data distributed over the year to help clients stay connected.
- Net Income Surge: The MVNO’s net income surged 129% to R442 million.
Digital Acceleration
Digital adoption continues to outpace traditional banking methods. Digital and VAS transaction volumes increased by 26%, with digital payments reaching R2.95 billion.
Deepening engagement is evident in the 15.3 million active app clients, a 19% increase year-on-year.
Looking Ahead
While the bank is tightening credit granting due to global economic flux, its roadmap is clear:
- Deepen the payments ecosystem.
- Expand embedded financial services.
- Scale Business Banking, which currently contributes 5% to group earnings.
With a massive customer base, robust data capabilities, and a market-leading ROE, Capitec is well-positioned for its next phase of growth while maintaining its core philosophy of simplicity and trust.
Capitec Bank Oveview
Capitec Bank is a major digital-first bank offering savings, credit, and transaction services in South Africa.
Capitec bank CEO
The CEO is Gerrie Fourie.
Capitec app
The Capitec Bank App lets users send money, pay bills, buy airtime, and manage accounts.
Capitec bank login
Used to access online and mobile banking services securely.
Open Capitec bank account online
Customers can open accounts via the app or website using ID verification.
Capitec bank customer service / contact details
- Phone: 0860 10 20 43
- Available 24/7 for banking support and fraud reporting.
Capitec bank near me / open now
The branch locator shows nearby branches and operating hours across South Africa for in-person services.
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