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The recent Capitec Annual Report has revealed some impressive expansion and profit gains by Capitec. For example, in the report Capitec chairman Michiel le Roux states that Capitec’s share of banking clients has grown from just 5 percent of the market back in 2010 up to 9 percent in 2012.

Capitec see themselves as championing the government’s aim to bring banking to those who previously did not have access. In Capitec’s case this is particularly in the field of short term unsecured loans. The boom in unsecured lending has seen Capitec stock shoot up in value. This is something Riaan Stassen  (chief executive of Capitec) appreciates as he cashed in some stock and took incentives and profit share to the total of R80 million this year.

It is likely that share prices and profit margins will drop later in the year so it seems that Mr Stassen has cashed in at just the right time.