The growth is largely driven by double-digit gains in interest income, supported by improved interest rates in 2025. Group chief executive officer (CEO) Graham Lee remains optimistic the bank can sustain this momentum, even as geopolitical tensions in the Middle East threaten to weigh down on global economic growth.

A key feature of the company’s stellar results was a rise in credit card usage, along with a zero-fee international offering. Tying into that, Lee remains optimistic about credit usage this financial year, stressing that before the war, South Africa’s economy was on an upward trajectory. 

While the business isn’t minimising the headwinds coming in the next six months as a result of the war, it's important to remember the calendar year started strong economically for South Africa. 

“In difficult times, there are many opportunities, and sometimes those difficult times create opportunities. There is a very significant market of businesses that will need funding to grow. 

“There is a massive market of people in South Africa who need their bank to create value for them. For us, that’s opportunity,” says Lee.

Bank continues to diversify

• Insurance and fintech income both up 38%
• Capitec Connect reaches 1.5 million active users
• Business banking clients up 71% to 456,000

Lee took over from former CEO Gerrie Fourie nine months ago, and tells the OFM Business Hour he loves the job, albeit with assumptions that it's stressful. He says, proudly, the people he works with are exceptional, and this makes the top job rewarding. They’re aligned, pull in the same direction, and share the same principles, which is a key factor in their overall success.

OFM Business Hour sm

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