Capitec reveals customers are under increasing financial pressure

JOHANNESBURG - Capitec's latest trading statement has revealed that consumers are under increasing financial pressure which has in turn affected the banker's business.

READ: Capitec results | Profits up but loan repayments take a hit

During the six months ended 31 August 2023, the credit granting criteria was tightened further to address the risk created by the adverse economic conditions.

In the statement, Capitec announced a increase of between 8 and 10-percent in headline earnings.

Capitec's half-year results are expected to be released later this month.