Finance
South Africans Living Beyond Their Means Are Troubling Capitec
- Lender increased first-half retail credit impairments by 61%
- Nation’s household debt to disposable income ratio is at 62.5%
A customer uses an ATM at a Capitec Bank branch in Johannesburg, South Africa.
Photographer: Leon Sadiki/BloombergThis article is for subscribers only.
South African consumers living beyond their means are troubling Capitec Bank Holdings Ltd., the nation’s biggest lender by accounts.
Capitec increased its retail segment’s credit impairment charges by 61% in the first six months to 4.6 billion rand ($239 million), according to earnings published on Thursday.