Capitec Bank Holdings Limited · JSE:CPI
Capitec Bank — FY2026 Earnings Presentation
48 slides from Capitec Bank's earnings presentation, February 2026
Slide 1: Annual results
Annual results February 2026 Please send any questions to InvestorRelations@capitecbank.co.za
Slide 2: 25 years of meaningful difference
25 years of meaningful difference We did not just change how people bank, we changed who gets to bank Our founding philosophy To make a meaningful difference in people’s lives, empowering them to grow – we have always wanted to be the bank for 95% of South Africans. Differentiated by clear and consi
Slide 3: VUCA operating environment
VUCA operating environment Resilient by design and prudent by choice Risk management is our core strength We never compromise on credit standards. Our business model thrives on diversity We generate income from many sources beyond just lending. Efficiency is in our DNA We focus on keeping our own co
Slide 4: 26m clients across a growing ecosystem
26 million clients across a growing ecosystem 1 in 3 South African adults are active on our app 26m Total active – up 7% Client breakdown 15m Active on app – up 19% Personal Banking – 25.2 million Entrepreneurs – 78 000 (launched in December 2025) AvaFin – 247 000 12m VAS – up 15% High potential seg
Slide 5: Capitec Group key performance indicators
Capitec Group Key performance indicators +18% to R14.1 billion Net interest income after credit impairments Headline earnings Fintech: Value-Added Services and Connect +38% to R6.1 billion +19% to R28.3 billion Non-interest income (incl. Transact, VAS, Connect and Insurance) +23% Net insurance incom
Slide 6: Capitec Group consolidated income statement
Capitec Group Consolidated income statement 12 months ended Feb 25 Feb 26 YoY Change Feb 25 Feb 26 YoY Change R million (excl. AvaFin) (excl. AvaFin) (excl. AvaFin) (incl. AvaFin) (incl. AvaFin) (incl. AvaFin) Net interest income 18 171 20 927 15% 20 185 24 080 19% Credit impairment charge (7 428) (
Slide 7: Diversified financial services group
Capitec Group Diversified financial services group Insurance Fintech 27% (VAS and Capitec Connect) 26% Business Banking R16.8 5% 1% AvaFin billion Personal Banking 866 branches, 8 771 cash devices 41% 7
Slide 8: Scale and technology allow us to deliver more value
Scale and technology allow us to deliver more value R1 billion given back to clients through simple, transparent fees and rewards R228m Simplified, reduced fees R1bn R330m Lower Connect data prices client savings R213m Reduced card machine pricing and commission R108m Connect data and Capitec Reward
Slide 9: Personal Banking
Personal Banking 25 million clients in 25 years
Slide 10: Personal Banking income diversified
Personal Banking income diversified Net transaction income contributes 62% to total income after credit impairments Up 16% 20 17.3 Up 17% 13.7 12.3 10.4 7.7 Net lending and investment income after credit impairments Net transaction income (incl. VAS and Capitec Connect) R billion Feb 24 Feb 25 Feb 2
Slide 11: Digital volumes continue to accelerate
Digital volumes continue to accelerate Half of all payments are digital – up 25% Cash volumes Card and digital volumes (million) (million) Up 23% overall Up 25% 2 953 Up 10% overall 2 366 1 892 205 Up 40% 98 147 Up 20% Up 4% 2 925 595 616 2 430 580 2 027 Feb 24 Feb 25 Feb 26 Feb 24 Feb 25 Feb 26 Sen
Slide 12: Strong growth of non-cash payments
Strong growth of non-cash payments Pay wallets growth to 11% of card payments Physical card Value: R608 billion +19% E-commerce Value: R136 billion +32% 643 million transactions (incl. (2025: R544 billion) 2.6 billion transactions (2025: R97 billion) Capitec Pay) Pay wallets Value: R68 billion +103%
Slide 13: Capitec Connect
Capitec Connect Challenging convention and creating more value for millions of clients
Slide 14: Affordable connectivity drives growth
Affordable connectivity drives growth 1.5 million clients active in the last 3 months (up 67%) Data usage (petabytes) 13.4 40.5 Up 202% Highlights • New Free Connect-to- Connect calling • 768 million minutes used – up 150% • Saved R330 million through lower data pricing • 3 petabytes of free data –
Slide 15: Capitec Connect devices
Capitec Connect devices Enabling clients to connect affordably New • Order on the app, delivered in 3 days • Access to premium Apple and Samsung devices • Monthly payments from R181 with zero deposit • Free 5GB data bundles for a year, worth R1 200 • No network locking 15
Slide 16: Credit
Credit Prudent management for long-term sustainability
Slide 17: Credit loss ratio
Credit loss ratio Remains within through-the-cycle target 9.2 Highlights 8.2 8.1 • Book growth of 9.4% • Credit Card growth of 32% • Rewarding high-risk clients for better behaviour improved arrears by 3.5% Feb 24 Feb 25 Feb 26 17
Slide 18: Data-driven growth
Data-driven growth Optimised offers increase loan disbursements by 27% to R68.7 billion R48.5bn R53.9bn R68.7bn Highlights • Applications up by 20% • 30% growth in annuity disbursement • Continuously and agile risk- based granting management FY24 FY25 FY26 18
Slide 19: Diversified credit income streams
Diversified credit income streams Growing purpose lending, digital channels and higher income clients Purpose lending On app Clients earning >R50 000 Up 94% Up 130% Up 50% Education 1 995 4 420 15 391 Home Improvement Vehicles 1 503 2 280 10 235 866 788 8 130 2 715 492 654 1 369 238 376 Feb 24 Feb 2
Slide 20: Robust Credit Card growth
Robust Credit Card growth Credit Card sales up 44% Credit Card new limit sales Credit Card annuity disbursements (R billion) (R billion) Up 44% 28.9 Highlights Up 44% • 32% Credit Card book growth 7.4 20.1 driven by strong annuity disbursements 16.5 5.1 • More than 110k new Credit Cards providing gr
Slide 21: Best Credit Card for international travel
Best Credit Card for international travel Client spend reaches R4.3bn on international payments – up 29% Zero international card fees Zero forex commission – best rates in the market Free in-app call support 1% cash back reward Free travel insurance New Lounge access and travel eSIM Credit Card used
Slide 22: Savings
Savings Supporting everyday and long- term savings needs
Slide 23: Simple, transparent savings that clients trust
Simple, transparent savings that clients trust 13% market share on all fixed deposits Personal Banking deposits (R billion) 163 151 135 Savings Plans 109 67% up R15 billion 94 62% 82 61% 53 57 54 Main Account Feb 24 Feb 25 Feb 26 23
Slide 24: Notice Deposit growth
Notice Deposit growth Supporting purposeful saving needs 7-day Notice Deposit balances 32-day Notice Deposit balances (R billion) (R billion) Up 100% 10.3 Highlights • Notice Deposit Savings Up 201% represents 10% of 6.3 Personal Banking 5.2 deposits (2025: 5%) • R858 million interest earned by clie
Slide 25: Insurance
Insurance Continued focus on improving efficiency and scale
Slide 26: Funeral Cover
Funeral Cover Lives assured increased by 13% to 16.6 million Sum assured (R billion) Up 15% Highlights 508 • 43% of policies on our 443 own licence (1.6 million) • Optimising operational 357 efficiencies to enhance client experience • 110 000 funerals covered in FY26 Feb 24 Feb 25 Feb 26 26
Slide 27: Funeral Cover net insurance result
Funeral Cover net insurance result Up by 58% to R2 907 million, propelled by growth in the book and recapture Claims ratio Collection rate decrease from increase from 44.9% to 43.5% 88.0% to 89.5% 535 (505) 22 2 907 141 144 727 Reinsurance Negative Cell Collection impact of investment Claims yield c
Slide 28: Life Cover
Life Cover 129% growth in lives insured to 221 000 Sum assured (R billion) Up 117% 102 Lump sum 52% Life Cover benefit 47 payouts Needs-based C hi e om l dr nc i en ’s n ee nt h ly 25% ds o M 23% Feb 25 Feb 26 28
Slide 29: Business Banking
Business Banking Empowering businesses with more affordable banking, better service and faster credit
Slide 30: Business clients grow 71% to 456 000
Business clients grow 71% to 456 000 Market responded well to reduced fees, competitive card machines and faster credit New 1 Mar 24 1 Mar 25 Dec 25 Rebrand Fee simplification Entrepreneur account Feb 26: 456k Highlights • Saved clients R217 million through fee reduction and reduced card machine pri
Slide 31: Entrepreneur Account
Entrepreneur Account Enabling millions of Personal Banking clients to turn their hustle into a business New • Free for Personal Banking clients • Create up to 4 separate accounts on the app • Zero paperwork • Access credit based on your business’s cash flow • Personalised Entrepreneur Card and state
Slide 32: Total book up 30% to R30.4 billion
Total book up 30% to R30.4 billion Scored lending book up 118% to R3.1 billion Feb 26: R3.1bn Dec 25 Pay-As-You-Trade credit Highlights • Scored overdraft on app provides instant access to working-capital • Pay-As-You-Trade repayments are made through a pre-agreed percentage of Feb 25: R1.4bn inflow
Slide 33: Smart card machines with low, transparent rates
Smart card machines with low, transparent rates We offer the lowest merchant commission rates in South Africa Monthly trading merchants Sep 24 New device promotion Feb 26: 112k Highlights • December merchant turnover grew 50% to Feb 25: 63k R12 billion • R213 million in client savings through lower
Slide 34: AvaFin
AvaFin Steady growth with a long-term focus
Slide 35: Evolving product suite to meet our clients' needs
Evolving product suite to meet our clients’ needs Improving operational metrics while developing new products Loan disbursements (EUR million) 629 474* 172 Highlights • Investing in the future with 130 116 maintained profitability 332* • New, longer-term, lower 86 89 interest rate loans 72 341 255 1
Slide 36: Investing in the future
Investing in the future Building longer-term relationships with clients Strategy New product highlights • Expand distribution capabilities and direct • Bi-weekly loan in Mexico access to clients • Instalment loans in Poland • Enhance client service and engagement • Near-prime book doubled in Latvia
Slide 37: Group operating expenses
Group operating expenses Growth driven by people, empowered through technology
Slide 38: Total expenses increased by 12% to R20.2 billion
Total expenses increased by 12% to R20.2 billion Always investing in the future with disciplined cost control Up 10% Up 12% 8 992 7 076 8 204 6 333 Up 18% 4 170 3 524 2 098 Up 21% 1 686 1 838 2 072 Up 13% Feb 25 Feb 26 Feb 25 Feb 26 Feb 25 Feb 26 Salaries (excl. IT salaries) IT expenses (incl. salar
Slide 39: Social Impact
Social Impact Investing in people, suppliers, education and community development
Slide 40: CSI and financial education
CSI and financial education Scaling impact across our branch and digital channels Education-led social investment Capitec Foundation: Improving maths outcomes in schools R75.9m invested in education across the school pipeline. The whole school approach was implemented in 33 public high schools, reac
Slide 41: Our people
Our people We remain committed to developing future leaders and future-fit skills to help SA grow Headcount External hires Internal hire rate Attrition 17 236 1 265 66% 8.89% (FY25: 16 525) • 87% of new hires are youth, 89% are equity and 57% are female • 250 bursaries and graduate development • 1 0
Slide 42: Meaningful innovation
Meaningful innovation Creativity, enabled through technology, making banking simpler, more affordable and more secure
Slide 43: Digital innovations to safeguard our clients
Digital innovations to safeguard our clients Beneficiary intelligence saved clients over R673 million Fraud prevention and innovation • Intelligent screening of every beneficiary in real-time • Blocked over 131 000 bad beneficiaries including 64 000 mule accounts • AI warnings stopped over 394 000 s
Slide 44: App and payments
App and payments Simple solutions based on our clients’ needs New 44
Slide 45: DHA ID applications
DHA ID applications Enabling access and restoring dignity to South Africans New • 71 000 successful ID applications • Over 5 400 senior citizens assisted • 86 branches live • Apply and collect in less than 5 min • Unlocking capacity at Home Affairs • R10 service fee plus R140 DHA fee 45
Slide 46: Enterprise-wide AI
Enterprise-wide AI Scaling our human advantage to make banking better and more secure Personalise • Right insight, product or service • Capitec Pulse AI – real-time contextual information to consultants • Business Credit AI – enable faster, intuitive credit decisioning Protect • Real-time fraud dete
Slide 47: The next 25 years starts now
The next 25 years starts now Building the future on solid fundamentals Business Banking Personal Banking Emerging Markets Enterprise Payments International strategy Financial crime Connect and Insure Embedded finance Data and media solutions CONTINUED GROWTH ACCELERATE FUTURE GROWTH CEO culture | AI
Slide 48: Thank you
Thank you Please send any questions to InvestorRelations@capitecbank.co.za 48