Capricorn Group Reports 28.4% Profit Growth in Interim. Capricorn Group has announced its interim financial results for the six months ending 31 December 2024, reporting a 28.4% increase in profit after tax to N$1.06 billion, compared to N$827.6 million in the previous period. Earnings per share rose 29.1% to 196.80 cents, and the annualised return on equity improved to 19.1% from 16.8%.
Key Financial Highlights:
- Net Interest Income grew 12.7% year-on-year, supported by a 5.7% increase in gross loans and advances and effective cost management.
- Non-Interest Income rose 16.1% (N$179 million), driven by higher transaction volumes and asset management fees, with assets under management reaching N$52.2 billion.
- Impairment Charges declined 25.7%, reflecting improved credit risk management, while non-performing loans decreased slightly to N$2.39 billion.
- Operating Expenses increased 12.1% year-on-year, with staff costs rising 8.6% (N$114.2 million) and IT expenses up 27.5% (N$26.8 million).
According to Group CEO David Nuyoma, the positive results were driven by strong performances from subsidiaries such as Bank Windhoek, Bank Gaborone, Capricorn Asset Management (CAM), Entrepo, and Peo Finance.
Capricorn Group declared an interim dividend of 61 cents per share, a 27.1% increase from the previous period. The dividend will be paid on 4 April 2025, with a record date of 20 March 2025.
