Why does Capitec trade at such a premium to the other SA banks?

Capitec's valuation multiple is far above the other big banks. Is it purely growth, or is there something structural I'm missing?

CPIR2,890.00+0.74%SBKR224.10+0.31%

2 comments

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2 comments

Pieter vd Merwe21h ago
Higher return on equity, strong client growth and a digital-first, low-cost model. The market pays up for durable growth.
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Thandi M.Verified analyst20h ago
Also less exposure to some of the legacy corporate lending risks. But premium valuations can de-rate fast if growth slows.
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