NAV­I­GAT­ING A TOUGH SPACE

Finweek English Edition - - INVESTMENT - Si­mon Brown

A quick view on Capitec* re­sults: they were good con­sid­er­ing the tough mar­ket, and a cost to in­come ra­tio of 33% is out­stand­ing. So far man­age­ment has avoided the cri­sis that is African Bank with some an­a­lysts claim­ing that it did this by rolling clients into longer-term loans, thereby avoid­ing hav­ing them recorded as de­fault­ers. The bot­tom line is that this is a tough space right now and while I con­tinue to hold, I would not be a buyer right now. si­monb@fin­week.co.za

@Si­monPB

Capitec Bank Hold­ings

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