Capitec now SA's fourth-largest lender

Stellenbosch-based Capitec Bank Holdings has pipped Nedbank Group as South Africa’s fourth-largest lender by value, extending market-beating rally that has made it SA’s best-performing stock.

According to Bloomberg, Capitec shares in Johannesburg rose 2 percent yesterday, closing at R891.03, giving the bank a market capitalisation of R103 billion ($8 billion) and extending gains this year to 28 percent. Nedbank climbed 0.9 percent to R205, for a market value of R102.1 billion, paring its decline in 2016 to 14 percent, Bloomberg said.

Pictured: Capitec CFO, André du Plessis