Capitec’s interim results highlight how purposeful innovation continues to strengthen the confidence of 25 million South African clients and growing.
Capitec reaches 25 million clients with continued growth in youth and higher-income earners
Stellenbosch, South Africa – 1 October 2025 Capitec, South Africa’s largest digital bank, today announced another 6 months of strong growth with headline earnings rising 26% to R8 billion in the period from March 2025 to August 2025.
Graham Lee, Group CEO of Capitec, says the Group’s performance is achieved through its focus on its clients and delivering innovative solutions that remain relevant in their lives.
“Our goal has been to build trust and make a meaningful impact for our clients. The scale of our 25 million client base puts us in a strong position to lower the cost per transaction, increase revenue and continue to invest in new initiatives and products that meet our clients’ daily needs.”
Capitec Group’s total client base grew by 8%, with the Personal Bank now serving over half of South Africa’s adult population. Fully banked clients increased by 11% to 9.4 million. Clients aged between 16 and 35 grew to 12 million, giving Capitec a commanding 58% market share among the youth segment, and clients with salaries above R50 000 per month have increased by 24%, reflecting Capitec’s growing relevance among higher-income earners.
The Group continues to deliver impressive returns by diversifying beyond Personal Banking.
Capitec’s Insurance business contributed 26% to the Group’s earnings and includes Credit Life Insurance, Life Cover, and Funeral Plans, which now cover 15.8 million lives - up 16% year-on-year.
The Fintech segment, comprising VAS and Capitec Connect, contributed 26% to Group earnings and experienced rapid growth across all product lines, with 1.1 million active Capitec Connect SIMs and 12 million clients purchasing VAS via the Capitec app last month.
AvaFin, the Group’s international lending arm operating in Poland, Latvia, Czechia, Spain, and Mexico, contributed R124 million to group headline earnings for the period from 1 May 2024 to 31 August 2024, with a 27% increase in active clients.
Capitec Business contributed 5% to group earnings, up from 2% last year, and now services 182 000 businesses, expanding its client base by 57%. The number of trading merchants using Capitec card machines increased by 165%, reaching 85 000. This demonstrates a strong vote of confidence from South African SMEs, who are increasingly attracted to Capitec’s straightforward and value-driven approach.
In the last 6 months, Capitec continued to innovate around client needs, introducing new solutions that are simpler, easier to access and significantly more affordable – unlocking more value for its 25 million clients.
Cross-border money transfers, in partnership with Mama Money, now enable easy payments to 8 African countries through the Capitec app, with transferred money reflecting in minutes. Page 2 of 3
The youth-focused Credit Card enables younger clients with no credit history to build their credit profile over time in a responsible way, with limits from R600 repayable in 3 monthly instalments. The dynamic repay-as-you-earn loan was introduced to enable multiple income earners and SMEs to qualify for credit based on non-salary income and repay their loans with smaller, flexible repayments. Capitec will also launch an improved secured home loan product with SA Home Loans, offering zero limits, competitive interest rates, and up to 50% off bond attorney fees.
Capitec Connect also introduced new devices, allowing clients to order any of 22 smartphones from their app to be delivered within 3 days and receive 30GB free data over the first 6 months. This is a key part of Capitec’s strategy to entrench itself as an enabler that is relevant in people’s daily lives.
Capitec continues to lead on affordability, giving back R203 million to clients through fee simplification. From 1 March 2025, it reduced and simplified transaction prices for Personal and Business Banking with its R1, R2, R3, R6 and R10 fee structure.
Personal Banking clients saved R106 million from lower fees, while Business Banking clients saved R97 million. Clients were also encouraged to move from SMS notifications, which have a fee, to free in-app notifications, saving them R52 million. Reduced merchant commission rates and discounted card machines saved clients R95 million. Over the same period, the group rewarded 449 terabytes of Capitec Connect data to clients, equivalent to streaming 153 000 HD movies.
Capitec continues to accelerate investments in its digital ecosystem, delivering tangible benefits to clients. App users grew by 13% to 14 million, driving a 35% surge in e-commerce transactions. The adoption of digital payments also increased, with a remarkable 131% year-over-year rise in Digital Wallet transactions.
Capitec’s investments have made it a leader in digital services. Recent innovations include:
As Capitec approaches its 25th anniversary, it remains focused on purposeful innovation, staying true to its fundamentals while anticipating its clients’ needs.
Lee says, “Looking ahead, we will focus on delivering better client experiences through inclusive credit, smarter digital tools, and partnerships that remove barriers. Banking should be simple, accessible, and human, and we’re committed to expanding our digital ecosystem, deepening client relationships, and creating opportunities for every South African.
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