Wrap Text
Summarised audited financial statements for the year ended 28 February 2015
Capitec Bank Holdings Limited
Registration number: 1999/025903/06
Registered bank controlling company
Incorporated in the Republic of South Africa
JSE ordinary share code: CPI ISIN code: ZAE000035861
JSE preference share code: CPIP ISIN code: ZAE000083838
('Capitec' or 'the Company' or 'the Group')
SUMMARISED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2015
* Earnings and headline earnings per share up 26% to 2 209 cents
* Earnings and headline earnings up 26% to R2.5 billion
* Final dividend per share: 590 cents
* Return on equity: 25%
* Active clients: 6.2 million
* New jobs created: 1 191
KEY PERFORMANCE INDICATORS
Change %
2015 2014 2015/2014 2013
PROFITABILITY
Interest income R'm 10 783 9 434 14 7 085
Net loan fee income R'm 619 841 (26) 1 153
Net transaction fee income R'm 2 608 1 927 35 1 349
Interest paid R'm (2 426) (2 133) 14 (1 663)
Other banking income R'm 22 (19) -
Income from banking operations R'm 11 606 10 050 15 7 924
Net loan impairment expense R'm (4 014) (3 976) 1 (2 659)
Net banking income R'm 7 592 6 074 25 5 265
Banking operating expenses R'm (4 031) (3 242) 24 (2 994)
Non-banking operations R'm (1) 2 7
Tax R'm (995) (797) 25 (673)
Preference dividend R'm (18) (20) (10) (21)
Earnings attributable to ordinary shareholders
* Basic R'm 2 547 2 017 26 1 584
* Headline R'm 2 547 2 017 26 1 584
Net transaction fee income to banking operating expense % 65 59 45
Net transaction fee income to net banking income % 34 32 26
Cost-to-income ratio - banking activities % 35 32 38
Return on ordinary shareholders' equity % 25 23 27
Earnings per share
* Attributable cents 2 209 1 752 26 1 519
* Headline cents 2 209 1 752 26 1 519
* Diluted attributable cents 2 206 1 740 27 1 498
* Diluted headline cents 2 206 1 740 27 1 498
Dividends per share
* Interim cents 246 203 21 169
* Final cents 590 460 28 405
* Total cents 836 663 26 574
Dividend cover x 2.6 2.6 2.6
ASSETS
Net loans and advances R'm 32 484 30 053 8 27 935
Cash and short-term funds R'm 19 755 14 423 37 9 166
Other R'm 1 677 1 715 (2) 1 246
Total assets R'm 53 916 46 191 17 38 347
LIABILITIES
Deposits R'm 41 181 35 449 16 29 000
Other R'm 1 172 760 54 834
Total liabilities R'm 42 353 36 209 17 29 834
EQUITY
Shareholders' funds R'm 11 564 9 982 16 8 513
Capital adequacy ratio % 36 39 41
Net asset value per ordinary share cents 9 822 8 433 16 7 212
Share price cents 41 000 18 375 123 18 800
Market capitalisation R'm 47 407 21 186 124 21 515
Number of shares in issue '000 115 627 115 298 - 114 442
Share options
* Number outstanding '000 710 1 503 (53) 2 177
* Number outstanding to shares in issue % 0.6 1.3 2
* Average strike price cents 19 403 9 465 105 6 294
* Average time to maturity months 28 16 75 15
OPERATIONS
Branches 668 629 6 560
Employees 10 261 9 070 13 8 308
Active clients '000 6 244 5 388 16 4 677
ATMs
* Own 941 744 26 640
* Partnership 2 477 2 174 14 1 914
* Total 3 418 2 918 17 2 554
Capital expenditure R'm 414 549 (25) 473
SALES
Loans
Value of loans advanced R'm 19 417 18 214 7 25 401
Number of loans advanced '000 2 820 3 034 (7) 3 760
Average loan amount R 6 887 6 003 15 6 756
Repayments R'm 23 787 21 862 9 19 159
Gross loans and advances R'm 36 341 33 690 8 30 658
Loans past due (arrears) R'm 1 964 2 174 (10) 1 777
Arrears to gross loans and advances % 5.4 6.5 5.8
Arrears and rescheduled loans <6 months R'm 2 848 2 921 (3) 2 402
Arrears and rescheduled loans <6 months to gross loans and
advances % 7.8 8.7 7.8
Provision for doubtful Debts R'm 3 857 3 637 6 2 723
Provision for doubtful debts to gross loans and advances % 10.6 10.8 8.9
Arrears coverage ratio % 196 167 153
Loan revenue R'm 10 660 9 841 8 7 983
Loan revenue to average gross loans and advances % 30.4 30.6 32.5
Gross loan impairment expense R'm 4 616 4 410 5 2 932
Recoveries R'm 602 434 39 273
Net loan impairment expense R'm 4 014 3 976 1 2 659
Net loan impairment expense to loan revenue % 37.7 40.4 33.3
Net loan impairment expense to average gross loans and advances % 11.5 12.4 10.8
Deposits
Wholesale deposits R'm 10 913 11 663 (6) 11 679
Retail call savings R'm 19 298 14 617 32 10 335
Retail fixed savings R'm 10 731 8 984 19 6 844
THROUGH A STORM
Our number of active clients increased by 856 000 to 6.2 million, compared to an increase of 711 000 last year. According to the comprehensive
AMPS survey, 16.8% of South Africans regard us as their primary bank, up from 12.7% the previous year. However, our dominant profit driver
remains our personal lending business where loan growth was modest but still positive. In this part of our business we concentrated on
improving credit granting and recoveries. A healthy growth in all departments seemed unlikely early in our financial year. South Africa was
rocked by large strikes, affecting many of our clients and on 10 August 2014 our biggest competitor was placed under curatorship. It was an
unpleasant experience to watch them fold under the weight of bad debt and market panic. Yet, by year-end our retail clients proved to be
unaffected by this drama and total retail funding grew by 27% to R30 billion. The wholesale funding market has not yet returned to normal, as
we explain below. Our earnings growth of 26% was driven by an increase in net transaction fee income, increased recoveries and improved credit
granting.
NET TRANSACTION FEE INCOME INCREASED 35%
After growing by 35%, our net transaction fee income covers 65% of our banking operating expenses and provides 34% of our net banking income.
This growth will slow temporarily next year as new limits on card processing fees between banks and merchants are applied. We plan for this to
be countered by an increase in client numbers and increased activity per client.
MORE SOUTH AFRICANS ARE TRUSTING CAPITEC WITH THEIR MONEY
The number of our primary banking clients grew by 578 000, to 2.8 million. These are clients who make regular deposits (mostly their salaries)
into Capitec accounts and who transact more regularly. Acceptance of the Capitec brand by higher income earning clients has influenced this
performance.
WE BELIEVE IN BRANCHES AND STAFF DEVELOPMENT
Although electronic service channels are important, face-to-face communication remains essential for many clients. We place a priority on
internal employee promotion and provide easy access to the training they need to perform effectively. During the year we promoted 1 251
employees. We increased the number of branches by 39 to 668. We increased the capacity of existing branches by increasing the number of
consultant workstations. Across the bank we created 1 191 new positions and now have 10 261 employees.
CAPITEC IS A RETAIL BANK ONLY
We do not do business or corporate banking. The only services we provide to businesses support our retail focus, such as a facility to pay
salaries to employees, and card machines. We focus our efforts on providing a distinctive service, saving our clients time and money. This
means we are obsessed with analysing details. Precision is necessary to deliver on the transparency and simplicity of our product offer.
Our automated queue management system enables us to provide better service and to improve our branch efficiency. In the past year our branches
issued 62 million service tickets, an increase of 30% on the 48 million of the previous year. We increased our ATM network by 500, bringing
the total of own and partnership ATMs to 3 418. The take-up of our cell phone app and internet banking continues to grow significantly and we
are pleased with the feedback received from the market on the simplicity of these products.
For the third year in a row Capitec received the highest general customer satisfaction scores for banking in the South African Customer
Satisfaction Index.
In November 2014, for the second year in a row, Capitec was voted South Africa's favourite financial services institution in the Ask Afrika
Orange Index customer service awards. Capitec ranked third overall, the only financial institution to make the top 20. We are thrilled by this
recognition, but know that service quality is a daily challenge in any retail business.
INCREASE IN THE COST-TO-INCOME RATIO
The cost-to-income ratio increased from 32% in 2014 to 35% this year. The two biggest reasons for the 25% growth in expenses was a growth of
13% in the number of employees and an increase of 479% in employee incentive costs. Salary costs grew by R232 million and bonus incentive costs
grew by R254 million. Profit targets were achieved, resulting in special bonuses for all employees. The 123% increase in the share price increased
the cost of incentives that are linked to this price by R109 million.
A BETTER CREDIT GRANTING MODEL
We continually adjust our credit criteria to improve the quality of the credit we grant. These changes are intended to reduce credit risk, at
the same time enabling us to lend more to specific groups of clients. In general it has reduced the period a loan is granted for. The average
term of the outstanding book decreased from 45 months at February 2014 to 43 months at February 2015. Although the terms of loans advanced
were shorter, the value of loans advanced grew by 7% from R18.2 billion to R19.4 billion in 2015 as the average loan amount increased.
GROSS LOAN IMPAIRMENT EXPENSE INCREASED BY 5%
The gross loan impairment expense rose by 5% to R4.6 billion, due to the result of extended strikes in the mining sector and the impact on
downstream industries, the strike in the manufacturing sector and challenges in the administration of collections in the education sector.
Additionally, because bad debts occur over time, the expense includes bad debt occurring on loans sold in previous years. Write-offs increased
by 26% from R3.5 billion to R4.4 billion, compared to a 99% increase in 2014. The level of provisions was increased by R220 million compared
to an increase of R914 million in 2014, because of lower arrears. Year-end arrears were 10% lower than last year.
WE PROVIDE 8% ON ALL NEW AND UP-TO-DATE LOANS
Arrears were lower as a percentage of gross loans and advances, amounting to 5.4% compared to 6.5% at the end of the 2014 financial year. The
level of provisions to arrears was 196%, compared to 167% at February 2014. Bad debt provisions increased 6% to R3.857 billion. We provide 8%
on up-to-date loans, 45% on loans one instalment behind, 73% for two instalments and 87% for three instalments. After 90 days in arrears we
consider the loan bad, write it off and hand it over to the legal process. The book is performing within our risk appetite. The board and
management concluded that the level of provisioning is sufficient.
We enhanced our centralised pre- and post-delinquent collection processes; we improved reporting, strengthened management, restructured the
legal collections environment and refined systems to improve recoveries by 39% to R602 million.
CAPITAL ADEQUACY HEALTHY AT 36%
The profit Capitec is generating is sufficient to fund the growth in the retail loan book. The capital adequacy ratio declined from 39% at
February 2014 to 36% at February 2015 mainly because we keep more money in higher yielding investments such as fixed and term-notice deposits,
which according to the rules require more capital than government treasuries. At the end of the 2015 financial year 37% of bank assets were
invested in cash and short-term funds compared to 31% at the end of the 2014. Capitec remains conservatively leveraged with total assets at 5
times equity.
The return on equity is on target at 25%. The total annual dividend increased by 26% in line with the growth in earnings.
RETAIL DEPOSITS GREW BY R6.4 BILLION
While we noted some depositor hesitation from August 2014 to October 2014 due to African Bank's curatorship, retail depositors set aside
concerns they may have had about the market and have increased deposits significantly since then. Deposit growth of R3.4 billion occurred in
the second half of the year surpassing the R3 billion deposited in the first half.
WHOLESALE FUNDING REMAINS IMPORTANT
Wholesale funding reduced as some funding instruments matured. In contrast to the retail market, confidence in the wholesale funding market
was negatively influenced by market events and the ratings downgrade of the South African banking sector. The availability of liquidity for
all market participants has been lower and the cost higher. We extended the term of some of our wholesale funding agreements. Wholesale
funding remains an important part of our liquidity structure. Capitec is fully compliant with the Basel 3 liquidity ratios. Our conservative
liquidity policies are unchanged.
REGULATION
Capitec engages regulators and government in a cooperative way, to understand and implement new regulations. We encourage regulators to engage
with industry players to ensure both efficiency and practicality are considered, to the benefit of all stakeholders.
CONTINGENT LIABILITY
Since 2013 we have reported that the National Credit Regulator ('NCR') alleged that Capitec Bank Limited had contravened the National Credit Act,
no. 34 of 2005 ('National Credit Act'). The National Credit Tribunal dismissed the NCR's application and the NCR lodged an appeal. The appeal has
been set down to be heard in the Gauteng High Court in February 2016. It remains impracticable to estimate the financial effect of any possible
outcome. Capitec is still of the view that the matter will be satisfactorily resolved through due process.
CHANGES IN BOARD COMPOSITION AND EXECUTIVE MANAGEMENT
Pieter van der Merwe, a board member since 2007, has announced his retirement. Pieter has served as the chairman of the audit
committee. He has been a stalwart member of the board and we thank him for his commitment, leadership and contribution.
On 23 March 2015 Jean Pierre Verster was appointed to the Capitec and Capitec Bank boards and will take over as the audit committee chairman.
He comes with experience in banking and financial services and we welcome him.
After 14 years of outstanding and dedicated service, Chris Oosthuizen who was in charge of information technology ('IT') since we started, will
be retiring in May 2015. We are indebted to Chris for developing the IT platform on which Capitec Bank stands today. He is succeeded by Wim de
Bruyn. Wim has many years of IT experience in banking, and we welcome him on board.
PROSPECTS
The South African economy continues to perform below its potential. However, we are optimistic. The growth in primary banking clients is an
exciting trend that we expect to continue, helping to offset the impact of the new limits on card processing fees. Our brand is going from
strength to strength and our efficiencies continue to improve.
DIVIDENDS
The directors declared a final gross dividend of 590 cents per ordinary share on 23 March 2015, bringing the total dividends for the year to
836 cents per share.
The final dividend meets the definition of a dividend in terms of the Income Tax Act (Act 58 of 1962). The dividend amount net of South
African dividend tax of 15% is 501.50000 cents per share. The distribution is made from income reserves and no Secondary Tax on Companies
('STC') credits were applied against the dividend. Capitec's tax reference number is 9405/376/84/0.Capitec has 115 626 991 shares in issue at
the declaration date.
Last day to trade cum dividend Friday, 10 April 2015
Trading ex-dividend commences Monday, 13 April 2015
Record date Friday, 17 April 2015
Payment date Monday, 20 April 2015
Share certificates may not be dematerialised or rematerialised between Monday, 13 April 2015 and Friday, 17 April 2015, both days inclusive.
The chief financial officer's review is available at www.capitecbank.co.za.
SUMMARISED CONSOLIDATED BALANCE SHEET
Audited Audited
February February
2015 2014
R'm R'm
ASSETS
Cash, cash equivalents and money market funds 11 312 9 666
Investments designated at fair value 2 664 4 757
Term deposit investments 5 778 -
Loans and advances 32 484 30 053
Other receivables 204 220
Derivative assets 36 203
Current income tax asset 38 22
Interest in associate - 2
Property and equipment 849 855
Intangibles 239 201
Deferred income tax asset 312 212
Total assets 53 916 46 191
LIABILITIES
Loans and deposits at amortised cost 41 181 35 449
Other liabilities 1 108 749
Provisions 64 11
Total liabilities 42 353 36 209
EQUITY
Ordinary share capital and premium 5 649 5 512
Cash flow hedge reserve 6 81
Retained earnings 5 701 4 130
Share capital and reserves attributable to ordinary shareholders 11 356 9 723
Non-redeemable, non-cumulative, non-participating preference share
capital and premium 207 259
Total equity 11 563 9 982
Total equity and liabilities 53 916 46 191
SUMMARISED CONSOLIDATED INCOME STATEMENT
Audited Audited
Year Year
ended ended
February February
2015 2014
R'm R'm
Interest income 10 783 9 434
Interest expense (2 426) (2 133)
Net interest income 8 357 7 301
Loan fee income 1 246 1 307
Loan fee expense (627) (466)
Transaction fee income 3 673 2 786
Transaction fee expense (1 065) (859)
Net fee income 3 227 2 768
Net impairment charge on loans and advances (4 014) (3 976)
Net movement in financial instruments held at fair value through profit or loss 21 (19)
Income from operations 7 591 6 074
Banking operating expenses (4 031) (3 242)
Loss on disposal of associate (1) -
Operating profit before tax 3 559 2 832
Share of profit of associate - 2
Income tax expense (995) (797)
Profit for the year 2 564 2 037
Earnings per share (cents)
* Basic 2 209 1 752
* Diluted 2 206 1 740
SUMMARISED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Audited Audited
Year Year
Ended Ended
February February
2015 2014
R'm R'm
Profit for the year 2 564 2 037
Cash flow hedge recognised during the year (89) 187
Cash flow hedge reclassified to profit and loss for the year (14) (53)
Cash flow hedge before tax (103) 134
Income tax relating to cash flow hedge 29 (37)
Other comprehensive income for the year net of tax (74) 97
Total comprehensive income for the year 2 490 2 134
RECONCILIATION OF ATTRIBUTABLE EARNINGS TO HEADLINE EARNINGS
Audited Audited
Year Year
ended Ended
February February
2015 2014
R'm R'm
Net profit attributable to equity holders 2 564 2 037
Less preference dividend (18) (20)
Discount on repurchase of preference shares 1 -
Net profit after tax attributable to ordinary shareholders 2 547 2 017
Non-headline items:
(Profit)/ Loss on disposal of property and equipment (3) -
Income tax charge - property and equipment 1 -
Loss on scrapping of intangible assets 2 -
Income tax charge - intangible assets (1) -
Loss on sale of associate 1 -
Headline earnings 2 547 2 017
SUMMARISED CONSOLIDATED STATEMENT OF CASH FLOWS
Audited Audited
Year Year
ended ended
February February
2015 2014
R'm R'm
Cash flow from operations 7 713 7 339
Income taxes paid (1 037) (830)
Cash flow from operating activities 6 676 6 509
Purchase of property and equipment (288) (407)
Proceeds from disposal of property and equipment 16 1
Purchase of intangible assets (125) (141)
Proceeds from sale of associate 1 -
Investment in term deposit investments (7 270) -
Redemption of term deposit investments 1 491 -
Acquisition of investments at fair value through profit or loss and money market
unit trusts (2 669) (5 429)
Disposal of investments at fair value through profit or loss and money market
unit trusts 4 777 3 375
Cash flow from investing activities (4 067) (2 601)
Dividends paid (832) (718)
Preference shares redeemed (51) -
Ordinary shares issued 137 182
Realised loss on settlement of employee share options less participants'
contributions (222) (149)
Cash flow from financing activities (968) (685)
Net increase in cash and cash equivalents 1 641 3 223
Cash and cash equivalents at the beginning of the year 9 663 6 440
Cash and cash equivalents at the end of the year 11 304 9 663
SUMMARISED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Audited Audited
Year Year
ended Ended
February February
2015 2014
R'm R'm
Equity at the beginning of the year 9 982 8 513
Total comprehensive income for the year 2 490 2 134
Ordinary dividend (814) (698)
Preference dividend (18) (20)
Employee share option scheme: Value of employee servi 13 8
Shares issued and acquired for employee share options at cost (278) (182)
Proceeds on settlement of employee share options 56 33
Tax effect on share options 47 12
Shares issued 137 182
Non-redeemable, non-cumulative, non-participating preference shares repurchased (51) -
Equity at the end of the year 11 564 9 982
COMMITMENTS
Audited Audited
February February
2015 2014
R'm R'm
Capital commitments approved by the board
Contracted for
* Property and equipment 54 27
* Intangible assets 9 8
Not contracted for
* Property and equipment 497 398
* Intangible assets 132 139
Property and other operating lease commitments
Future aggregate minimum lease payments
* Within one year 309 257
* From one to five years 836 740
* After five years 214 216
Total future cash flows 1 359 1 213
Straight-lining accrued (71) (57)
Future expenses 1 288 1 156
CONTINGENT LIABILITIES
Details relating to the contingent liability in respect of the NCR, are set out in the commentary above. Details relating to Capitec Bank’s
participation in the consortium that is underwriting the recapitalisation of African Bank are presented below.
On 10 August 2014 African Bank Limited was placed into curatorship. Capitec Bank is a participant in a consortium that will underwrite the
recapitalisation of African Bank for R10 billion. The other members of the consortium comprise the Public Investment Corporation and five
other South African retail banks. The banks have a maximum exposure of 25% of the recapitalisation if the market does not participate. The
participation level of each of the banks is based on a formula agreed on between the banks. At as 28 February 2015, the curator had not
specified a date for the recapitalisation.
POST BALANCE SHEET EVENT
New regulations dealing with the assessment of affordability under the National Credit Act, no. 34 of 2005, were published on 13 March 2015.
The regulations came into effect on date of publication. Although we comply substantially, adjustments are being implemented to achieve full
compliance. We support proper regulation enhancing sustainability of the credit industry.
SEGMENT ANALYSIS
Capitec reports a single segment - Retail banking, operating only within the South African economic environment. The business is widely
distributed with no reliance on any major customers. The business sells a single retail banking product 'Global One' which enables clients to
transact, save and borrow.
FAIR VALUE MEASUREMENTS
As at 28 February 2015 the fair value of deposits and bonds and of loans and advances was R41.4 billion (2014: R35.6 billion) and R36.9 billion
(2014: R32.7 billion) respectively. The fair value of deposits and bonds was calculated on a level 2 basis and loans and advances were calculated
on a level 3 basis. Investments designated at fair value are valued using the market approach on a level 2 basis. The fair value of all other
financial instruments equates their carrying amount.
NOTES
The summary consolidated financial statements are prepared in accordance with the JSE Limited Listings Requirements for preliminary reports
and the requirements of the Companies Act applicable to summary financial statements. The Listings Requirements require preliminary reports to
be prepared in accordance with the framework concepts and the measurement and recognition requirements of International Financial Reporting
Standards ('IFRS'), the SAICA Financial Reporting Guides as issued by the Accounting Practices Committee, Financial Pronouncements as issued by
the Financial Reporting Standards Council and to also, as a minimum, contain the information required by IAS 34 'Interim Financial Reporting'.
The accounting policies applied in the preparation of the consolidated financial statements from which the summary consolidated financial
statements were derived are in terms of IFRS and are consistent with those accounting policies applied in the preparation of the previous
consolidated annual financial statements. All other standards, interpretations and amendments to published standards applied for the first
time during the current financial period did not have any significant impact on the financial statements.
The preparation of the summary audited consolidated financial statements was supervised by the chief financial officer, Andre du Plessis CA (SA).
INDEPENDENT AUDITOR'S OPINION
These summary consolidated financial statements for the year ended 28 February 2015 have been audited by PricewaterhouseCoopers Inc., who
expressed an unmodified opinion thereon. The auditor also expressed an unmodified opinion on the annual financial statements from which these
summary consolidated financial statements were derived.
A copy of the auditor's report on the summary consolidated financial statements and of the auditor's report on the annual consolidated
financial statements are available for inspection at the company's registered office, together with the financial statements identified in the
respective auditor's reports.
The auditor's report does not necessarily report on all of the information contained in this announcement/financial results. Shareholders are
therefore advised that in order to obtain a full understanding of the nature of the auditor's engagement they should obtain a copy of the
auditor's report together with the accompanying financial information from the company's registered office. The directors take full responsibilty
for the preparation of the report and that the financial information has been correctly extracted from the underlying annual financial statements.
On behalf of the board
Michiel le Roux
Chairman
Gerrie Fourie
Chief executive officer
Stellenbosch
24 March 2015
COMPANY SECRETARY AND REGISTERED OFFICE
Christian George van Schalkwyk: BComm, LLB, CA (SA)
1 Quantum Street, Techno Park, Stellenbosch 7600, PO Box 12451, Die Boord, 7613
TRANSFER SECRETARIES
Computershare Investor Services Proprietary Limited
(Registration number: 2004/003647/07)
Ground Floor, 70 Marshall Street, Johannesburg 2001,
PO Box 61051, Marshalltown 2107
SPONSOR
PSG Capital Proprietary Limited (Registration number: 2006/015817/07)
DIRECTORS
MS du P le Roux (Chairman), GM Fourie (CEO)*, AP du Plessis (CFO)*, Ms RJ Huntley, JD McKenzie, Ms NS Mjoli-Mncube, PJ Mouton, CA Otto,
G Pretorius, R Stassen, JP Verster(appointed 23 March 2015)
*Executive
ANNUAL GENERAL MEETING
Notice is hereby given that the annual general meeting of the shareholders of Capitec will be held on Friday, 29 May 2015. The detailed notice
will be available from 30 April 2015 at: www.capitecbank.co.za/investor relations/shareholder centre/notice of annual general meeting.
capitecbank.co.za
enquiries@capitecbank.co.za
Date: 24/03/2015 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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