Wrap Text
Unaudited Financial Results For The Six Months Ended 31 August 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')
UNAUDITED FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2015
Headline earnings up 25% to R1.469 billion
Headline earnings per share up 25% to 1 271 cents
Interim dividend per share up 52% to 375 cents
Return on equity: 26%
Active clients: 6.7 million
New jobs created: 1 543
KEY PERFORMANCE INDICATORS
Year
Six months ended
ended August Change % February
2015 2014 2015/2014 2015
PROFITABILITY
Interest income R'm 6 042 5 202 16 10 783
Net loan fee income R'm 399 304 31 619
Net transaction fee income R'm 1 414 1 202 18 2 608
Interest paid R'm (1 372) (1 179) 16 (2 426)
Other income R'm (3) 17 (118) 22
Income from operations R'm 6 480 5 546 17 11 606
Net loan impairment expense R'm (2 113) (1 996) 6 (4 014)
Net income R'm 4 367 3 550 23 7 592
Operating expenses R'm (2 315) (1 912) 21 (4 031)
Non-banking operations R'm - - (1)
Tax R'm (575) (455) 26 (995)
Preference dividend R'm (9) (9) (18)
Earnings attributable to ordinary shareholders
* Basic R'm 1 468 1 174 25 2 547
* Headline R'm 1 469 1 173 25 2 547
Net transaction fee income to net income % 32 34 34
Net transaction fee income to operating expenses % 61 63 65
Cost-to-income ratio % 36 34 35
Return on ordinary shareholders' equity % 26 25 25
Earnings per share
* Attributable cents 1 270 1 018 25 2 209
* Headline cents 1 271 1 018 25 2 209
* Diluted attributable cents 1 265 1 015 25 2 206
* Diluted headline cents 1 266 1 015 25 2 206
Dividends per share
* Interim cents 375 246 52 246
* Final cents 590
* Total cents 836
Dividend cover x 2.6
ASSETS
Net loans and advances R'm 33 649 31 323 7 32 484
Cash and short-term funds R'm 22 839 16 611 37 19 755
Other R'm 2 066 1 640 26 1 677
Total assets R'm 58 554 49 574 18 53 916
LIABILITIES
Deposits R'm 45 042 38 334 17 41 181
Other R'm 1 135 808 40 1 172
Total liabilities R'm 46 177 39 142 18 42 353
EQUITY
Shareholders' funds R'm 12 377 10 432 19 11 564
Capital adequacy ratio % 35 38 36
Net asset value per ordinary share cents 10 539 8 868 19 9 822
Share price cents 48 285 21 205 128 41 000
Market capitalisation R'm 55 830 24 449 128 47 407
Number of shares in issue '000 115 627 115 298 115 627
Share options
* Number outstanding '000 1 036 967 7 710
* Number outstanding to shares in issue % 0.9 0.8 0.6
* Average strike price cents 25 188 14 197 77 19 403
* Average time to maturity months 27 22 23 28
OPERATIONS
Branches 691 647 7 668
Employees 11 034 9 491 16 10 261
Active clients '000 6 708 5 806 16 6 244
ATMs
* Own 1 071 841 27 941
* Partnership 2 575 2 367 9 2 477
* Total 3 646 3 208 14 3 418
Capital expenditure R'm 307 145 112 414
SALES
Loans
Value of loans advanced R'm 11 070 9 346 18 19 417
Number of loans advanced '000 1 798 1 324 36 2 820
Average loan amount R 6 157 7 059 (13) 6 887
Repayments R'm 13 646 11 329 20 23 787
Gross loans and advances R'm 37 898 35 086 8 36 341
Loans past due (arrears) R'm 1 781 1 935 (8) 1 964
Arrears to gross loans and advances % 4.7 5.5 5.4
Arrears and arrears rescheduled <6 months R'm 2 948 2 680 10 2 848
Arrears and arrears rescheduled <6 months to gross
loans and advances % 7.8 7.6 7.8
Provision for doubtful debts R'm 4 249 3 763 13 3 857
Provision for doubtful debts to gross loans and
advances % 11.2 10.7 10.6
Arrears coverage ratio % 239 194 196
Arrears and arrears rescheduled <6 months coverage
ratio % 144 140 135
Loan revenue R'm 5 906 5 169 14 10 660
Loan revenue to average gross loans and advances % 15.9 15.0 30.4
Gross loan impairment expense R'm 2 510 2 255 11 4 616
Recoveries R'm 397 259 53 602
Net loan impairment expense R'm 2 113 1 996 6 4 014
Net loan impairment expense to loan revenue % 35.8 38.6 37.7
Net loan impairment expense to average gross loans
and advances % 5.7 5.8 11.5
Deposits
Wholesale deposits R'm 10 429 11 089 (6) 10 913
Retail call savings R'm 21 851 16 183 35 19 298
Retail fixed savings R'm 12 762 10 388 23 10 731
SUSTAINABLE GROWTH
Capitec continues to grow. We have 902 000 more active clients than a year ago, of which 576 000 are
additional primary banking clients. Over the last twelve months, we opened 44 branches and created 1 543
new jobs. Our retail deposits increased year-on-year by R8 billion. Our loan book has grown modestly and
we are comfortable with the current arrears of 4.7%.
We remain focused on building relationships and supporting clients to manage their financial lives better.
This has helped us attract young people in both high and low-income categories.
EARNINGS UP 25%
Earnings increased by 25% to R1.5 billion from R1.2 billion a year ago. Growth came from higher loan
and transaction fee income and improved loan book performance as a result of better granting criteria and
lower arrears.
WINNING MARKET SHARE
Capitec's banking philosophy continued to attract clients. Active client numbers grew during the past six
months to 6.7 million at the end of August 2015. We define an active client as a client who performs a
minimum level of transacting during a twelve-month period. According to the comprehensive AMPS survey for
the period ended December 2014, 18.9% of South Africans regard Capitec Bank as their primary bank, up from
16.8% for the period ended June 2014. Similar growth in market share is expected when the next survey is
announced.
Clients who make regular deposits (mostly their salaries) into their Capitec bank accounts are considered
primary banking clients. These clients are important because they use their bank accounts more often, and
as a result, we receive higher fee income from them. Primary banking clients totalled 3.0 million at
August 2015 (August 2014: 2.4 million; February 2015: 2.8 million).
NET TRANSACTION FEE INCOME INCREASED 18%
Net transaction fee income grew by 18% to R1.4 billion for the six months ended 31 August 2015, despite the
impact of the decrease in card processing fees. Net transaction fee income covered 61% of operating expenses
(six months to August 2014: 63%) and provided 32% of our net banking income (six months to August 2014:34%).
OPERATING COSTS INCREASED 21%
Operating costs increased by 21% to R2.3 billion for the six-month period. This represents a year-on-year
increase of R403 million. The growth resulted from employee numbers increasing by 16% due to the expanding
branch network and employing more people in support departments, mainly information technology. Employment
costs contributed R277 million to the overall increase in operating expense. Premises and security are the
other major contributors towards the increase.
We opened 23 new branches and installed 228 new ATMs during the last six months. There are 869 000 more
clients making use of cellphone banking since August 2014, with 3.8 million clients using this method to
transact.
A total of 773 new jobs were created in the last six months and Capitec now employs 11 034 people. We place
emphasis on the training and development of individuals. All new employees undergo intense training to
embed the bank's values and the bank's belief in client service. Leadership programmes that run in
conjunction with the Gordon Institute of Business Science were introduced.
Capital expenditure increased 112% to R307 million for the six-month period ended August 2015 (August 2014:
R145 million) due to an aggressive rollout of ATMs, acquisition of a building which houses our IT
operations and the opening of new branches.
GROSS LOANS AND ADVANCES INCREASED 8%
Gross loans and advances grew by 8% year-on-year from R35.1 billion to R37.9 billion. Net loan impairment
expense to average gross loans and advances decreased to 5.7% at August 2015 from 5.8% a year ago.
We granted more low-value, short-term loans, which also decreased the average loan size granted to R6 157.
The value of new loans granted grew 18% compared to the period ended August 2014 and 10% compared to the
six months ended February 2015.
The overall term of the outstanding book shortened to 41 months at August 2015 (August 2014: 44 months;
February 2015: 43 months).
ARREARS AS A PERCENTAGE OF GROSS LOANS AND ADVANCES DOWN TO 4.7%
Book quality is measured most objectively by loans past due (those in arrears) as a percentage of the total
loan book, as well as the rand amount of total arrears. Arrears were down 8% year-on-year to R1.8 billion
(August 2014: R1.9 billion). Arrears as a percentage of gross loans and advances improved to 4.7% compared
to 5.5% in August 2014 and 5.4% in February 2015. The improvement reflects better credit granting criteria
and better arrears collections.
We identified the opportunity to optimise collections by rescheduling the loans of selected clients rather
than handing them over for legal process. This rehabilitation directly benefits the client. As a result,
arrears rescheduled less than six months ago increased 57% year-on-year to R1.1 billion (August 2014:
R745 million). The ratio of arrears and arrears rescheduled less than six months ago to gross loans and
advances increased to 7.8% compared to 7.6% at August 2014 and remained the same compared to February 2015.
Although the arrears rescheduled less than six months ago balances are up to date in terms of the new
agreement, we provide on average 40% on these clients.
The arrears performance and book quality remain well within our risk appetite.
PRUDENT PROVISIONING
The gross loan impairment expense rose by 11% for the six months ended August 2015 compared to the six
months ended August 2014. The table below analyses this increase:
Year
Six months ended
ended August Change % February
2015 2014 2015/2014 2015
Write-offs R'm 2 118 2 129 (1) 4 395
Movement in bad debt provision R'm 392 126 211 221
Gross loan impairment expense R'm 2 510 2 255 11 4 616
Write-offs remained stable and totalled R2.1 billion. The stability in write-offs was offset by a higher
provisions charge of R392 million at August 2015 (August 2014: R126 million).
We remain prudent in the application of our write-off policies. We provide 7% for loans that are up to date,
46% for clients who are behind by one instalment, 74% for two instalments and 87% for three instalments. A
loan that is more than 90 days in arrears is considered bad and is written off, notwithstanding that the
loan repayments are still actively pursued via legal process.
Increased overall provisions are partly the result of higher provisions against clients dependent on South
Africa's mining industry, coupled with ongoing uncertainty in both local and global markets. As a result,
provisions for doubtful debts increased by 13% to R4.2 billion, which equates to 11.2% of the gross loan
book (August 2014: 10.7%; February 2015: 10.6%). Provisions are more than double the loans in arrears, as
illustrated by the arrears coverage ratio of 239% (August 2014: 194%; February 2015: 196%). Expressed over
arrears and arrears rescheduled less than six months ago, the coverage ratio equates to 144% (August 2014:
140%; February 2015: 135%).
STRONG CAPITAL LEVELS
The annualised return on equity for the six months was 26% (August 2014: 25%). Capitec remains well
capitalised and is generating sufficient profit to fund growth in the loan book. At August 2015, the
capital adequacy ratio was 35.4%. The forecast capital adequacy ratio remains strong.
INTERIM DIVIDEND INCREASED BY 52%
The interim dividend increased by 52% from 246 cents per share at August 2014 to 375 cents per share at
August 2015. Last year the interim dividend reflected 29% of the total dividend. We believe the interim
dividend should make up a higher percentage of the total dividend, therefore the big increase. This is a
one-off adjustment between the interim and final dividend and does not indicate a revised dividend
policy.
HEALTHY LIQUIDITY AND GROWTH OF DEPOSITS
Retail deposit funding was R34.6 billion at 31 August 2015, an increase of R8.0 billion on the prior year.
Balances have grown consistently during the year and reliance on wholesale deposits has decreased. However
a reserve of longer dated wholesale deposits is maintained to match assets and liabilities. Wholesale
funding remains an important part of our liquidity structure.
During May 2015, a bond of R500 million was successfully issued. The auction was 2.5 times oversubscribed.
Capitec maintained a healthy liquidity position, in line with our conservative capital management policy,
throughout the year. We comfortably exceed the Basel 3 liquidity standards, which measure our ability to
survive severe stress due to a loss of support from institutional funders and how well the bank matches
cash inflows from assets with its cash outflows to funders and depositors.
REGULATION
The Department of Trade and Industry ("DTI") published new regulations dealing with the assessment of
affordability under the National Credit Act on 13 March 2015. The regulations guide credit providers away
from providing high-risk credit and protect consumers applying for credit at registered providers. We
continue to support appropriate regulation enhancing the sustainability of the credit industry and work
closely with the Regulator on these matters.
In June this year, the DTI released a draft of proposed new interest rate limits and fees for credit
agreements for public comment. We performed a robust assessment of the impact of these proposals and have
determined that there will be a limited impact on Capitec as we have consistently and responsibly offered
unsecured credit below the statutory ceiling limits. In principle, Capitec is supportive of action by the
DTI to reduce the cost of credit for consumers if this is done in a manner that is sustainable and achieves
a balance between affordability and access to credit. However, we believe the current proposal will have
a severe impact on the industry and economy as it will limit credit supply to the market, due to lower
margins.
CONTINGENT LIABILITY
Since 2013, we have reported that the National Credit Regulator ("NCR") alleged that Capitec Bank Limited
had contravened the 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 remains
of the view that the matter will be satisfactorily resolved through due process.
PROSPECTS
We remain committed to providing simple, accessible and affordable banking supported by personal service.
This commitment has resulted in the growth in our active client numbers, a trend we expect to continue.
Despite an unsupportive economic environment, we are bullish on retail banking and see opportunities to
grow our client base and product offering. We are cautious on credit but remain optimistic that we can grow
our loan book in a prudent manner.
We remain focused on our strategy to be the best retail bank for all South Africans.
INTERIM DIVIDEND
The directors declared a gross interim dividend for the six months ended 31 August 2015 of 375 cents per
ordinary share on Monday, 28 September 2015. The dividend will be paid on Monday, 26 October 2015. There
are 115 626 991 ordinary shares in issue.
The dividend meets the definition of a dividend in terms of the Income Tax Act. The dividend amount net of
South African dividend tax of 15% is 318.75000 cents per share. The distribution is made from income
reserves. Capitec's tax reference number is 9405/376/84/0.
Last day to trade cum dividend Friday, 16 October 2015
Trading ex-dividend commences Monday, 19 October 2015
Record date Friday, 23 October 2015
Payment date Monday, 26 October 2015
Share certificates may not be dematerialised or rematerialised between Monday, 19 October 2015 and Friday,
23 October 2015, both days inclusive.
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Unaudited Unaudited Audited
Six months Six months Year
ended ended Six months ended
August August August February
2015 2014 2015/2014 2015
R'm R'm % R'm
ASSETS
Cash, cash equivalents and money market funds 10 563 9 518 11 11 312
Investments designated at fair value 1 449 2 887 (50) 2 664
Investments designated at amortised cost 2 639 - -
Term deposit investments 8 188 4 206 95 5 778
Loans and advances to clients 33 649 31 323 7 32 484
Other receivables 389 204 91 204
Derivative assets 104 136 (24) 36
Current income tax asset 102 70 46 38
Interest in associate - 2 -
Property and equipment 964 811 19 849
Intangibles 230 208 11 239
Deferred income tax asset 277 209 33 312
Total assets 58 554 49 574 18 53 916
LIABILITIES
Loans and deposits at amortised cost 45 042 38 334 17 41 181
Other liabilities 1 068 766 39 1 108
Provisions 67 42 60 64
Total liabilities 46 177 39 142 18 42 353
EQUITY
Ordinary share capital and premium 5 649 5 513 2 5 649
Cash flow hedge reserve 36 34 6 6
Retained earnings 6 501 4 678 39 5 701
Share capital and reserves attributable to ordinary
shareholders 12 186 10 225 19 11 356
Non-redeemable, non-cumulative, non-participating
preference share capital and premium 191 207 (8) 207
Total equity 12 377 10 432 19 11 563
Total equity and liabilities 58 554 49 574 18 53 916
CONDENSED CONSOLIDATED INCOME STATEMENT
Unaudited Unaudited Audited
Six months Six months Year
ended ended Six months ended
August August August February
2015 2014 2015/2014 2015
R'm R'm % R'm
Interest income 6 040 5 201 16 10 783
Interest expense (1 372) (1 179) 16 (2 426)
Net interest income 4 668 4 022 16 8 357
Loan fee income 732 601 22 1 246
Loan fee expense (332) (298) 11 (627)
Transaction fee income 2 013 1 697 19 3 673
Transaction fee expense (599) (494) 21 (1 065)
Net fee income 1 814 1 506 20 3 227
Net impairment charge on loans and advances to clients (2 113) (1 996) 6 (4 014)
Net movement in financial instruments held at fair value
through profit or loss (3) 16 (119) 21
Income from operations 4 366 3 548 23 7 591
Operating expenses (2 315) (1 912) 21 (4 031)
Loss on sale of associate - - (1)
Operating profit before tax 2 051 1 636 25 3 559
Income tax expense (575) (455) 26 (995)
Profit for the period 1 476 1 181 25 2 564
Earnings per share (cents)
* Basic 1 270 1 018 25 2 209
* Diluted 1 265 1 015 25 2 206
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Unaudited Unaudited Audited
Six months Six months Year
ended ended Six months ended
August August August February
2015 2014 2015/2014 2015
R'm R'm % R'm
Profit for the period 1 476 1 181 25 2 564
Cash flow hedge recognised during the period 52 (48) 208 (89)
Cash flow hedge reclassified to profit and loss for the period (13) (16) (19) (14)
Cash flow hedge before tax 39 (64) 161 (103)
Income tax relating to cash flow hedge (11) 18 (161) 29
Other comprehensive income for the period net of tax 28 (46) 161 (74)
Total comprehensive income for the period 1 504 1 135 33 2 490
RECONCILIATION OF ATTRIBUTABLE EARNINGS TO HEADLINE EARNINGS
Unaudited Unaudited Audited
Six months Six months Year
ended ended Six months ended
August August August February
2015 2014 2015/2014 2015
R'm R'm % R'm
Net profit attributable to equity holders 1 476 1 181 25 2 564
Preference dividend (9) (9) (18)
Discount on repurchase of preference shares 1 1 1
Net profit after tax attributable to ordinary shareholders 1 468 1 173 25 2 547
Non-headline items:
(Profit)/Loss on disposal of property and equipment 2 (1) (3)
Income tax charge - property and equipment (1) 1 1
Loss on scrapping of intangible assets - - 2
Income tax charge - intangible assets - - (1)
Loss on sale of associate - - 1
Headline earnings 1 469 1 173 25 2 547
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
Unaudited Unaudited Audited
Six months Six months Year
ended ended Six months ended
August August August February
2015 2014 2015/2014 2015
R'm R'm % R'm
Cash flow from operations 4 712 3 491 35 7 713
Income taxes paid (598) (471) 27 (1 037)
Cash flow from operating activities 4 114 3 020 36 6 676
Purchase of property and equipment (268) (96) 179 (288)
Proceeds from disposal of property and equipment - 1 16
Purchase of intangible assets (39) (49) (20) (125)
Proceeds from sale of associate - - 1
Investment in term deposit investments (6 056) (4 206) 44 (7 270)
Redemption of term deposit investments 3 646 - 1 491
Acquisition of investments designated at amortised cost (2 639) - -
Acquisition of investments at fair value through profit
or loss and money market unit trusts (1) (245) (100) (2 669)
Disposal of investments at fair value through profit or
loss and money market unit trusts 1 212 2 131 (43) 4 777
Cash flow from investing activities (4 145) (2 464) 68 (4 067)
Dividends paid (691) (540) 28 (832)
Preference shares redeemed (15) (51) (71) (51)
Ordinary shares issued - - 137
Realised loss on settlement of employee share options
less participants' contributions (13) (113) (88) (222)
Cash flow from financing activities (719) (704) 2 (968)
Net (decrease)/increase in cash and cash equivalents (750) (148) 407 1 641
Cash and cash equivalents at the beginning of the period 11 304 9 663 17 9 663
Cash and cash equivalents at the end of the period 10 554 9 515 11 11 304
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Unaudited Unaudited Audited
Six months Six months Year
ended ended Six months ended
August August August February
2015 2014 2015/2014 2015
R'm R'm % R'm
Equity at the beginning of the period 11 564 9 982 16 9 982
Total comprehensive income for the period 1 504 1 135 33 2 490
Ordinary dividend (682) (530) 29 (814)
Preference dividend (9) (9) (18)
Employee share option scheme:
* Value of employee services 11 6 83 13
* Shares issued and acquired for employee share options at cost (14) (141) (90) (278)
* Proceeds on settlement of employee share options 1 28 (96) 56
* Tax effect on share options 17 12 42 47
Shares issued - - 137
Non-redeemable, non-cumulative, non-participating preference
shares repurchased (15) (51) (71) (51)
Equity at the end of the period 12 377 10 432 19 11 564
COMMITMENTS
Unaudited Unaudited Audited
Six months Six months Year
ended ended Six months ended
August August August February
2015 2014 2015/2014 2015
R'm R'm % R'm
Capital commitments approved by the board
Contracted for
* Property and equipment 70 79 (11) 54
* Intangible assets 8 9 (11) 9
Not contracted for
* Property and equipment 297 225 32 497
* Intangible assets 117 77 52 132
Property and other operating lease commitments
Future aggregate minimum lease payments
* Within one year 324 289 12 309
* From one to five years 909 792 15 836
* After five years 264 205 29 214
Total future cash flows 1 497 1 286 16 1 359
Straight-lining accrued (76) (64) 19 (71)
Future expenses 1 421 1 222 16 1 288
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. The
recapitalisation will occur early during the 2016 calendar year.
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' that enables clients to transact, save and borrow.
FAIR VALUES
In terms of IFRS 13 'Fair value measurement', the fair value of loans and advances was R39.4 billion
(August 2014: R35.0 billion) and for deposits was R45.2 billion (August 2014: R38.8 billion). The fair value
of all other financial instruments equates their carrying amount.
UNAUDITED INTERIM FINANCIAL STATEMENTS
The condensed consolidated interim financial statements were prepared in accordance with International
Accounting Standard (IAS) 34 'Interim Financial Reporting', the SAICA Financial Reporting Guides as issued
by the Accounting Practices Committee, Financial Pronouncements as issued by the Financial Reporting
Standards Council and the requirements of the Companies Act of South Africa, as amended. The accounting
policies applied in the preparation of these interim financial statements are in terms of International
Financial Reporting Standards and are consistent with those applied in the previous consolidated annual
financial statements except for standards, interpretations and amendments to published standards, applied
for the first time during the current financial period, which did not have any impact on the financial
statements. The Group complies in all material respects with the requirements of King III. Basel
disclosures in terms of Regulation 43 of the Banks' Act are available on the Capitec Bank website.
No event, that is material to the financial affairs of the Group, has occurred between the reporting date
and the date of approval of the condensed consolidated interim financial statements.
The preparation of the condensed consolidated interim financial statements was supervised by the chief
financial officer, Andre du Plessis CA(SA).
On behalf of the board
Michiel le Roux
Chairman
Gerrie Fourie
Chief executive officer
Stellenbosch
29 September 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, Stellenbosch 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 van der Merwe (resigned 20 March 2015), JP Verster (appointed 23 March 2015)
* Executive
capitecbank.co.za
enquiries@capitecbank.co.za
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