March 27, 2018 / 5:46 AM / a year ago

South Africa's Capitec FY profit rises 18 pct

JOHANNESBURG, March 27 (Reuters) - Capitec, South Africa’s fifth-largest lender, reported on Tuesday an 18 percent rise in annual profit, buoyed by transaction and deposit fees.

The bank, which makes the bulk of its profit from selling unsecured loans to low-income clients, said its diluted headline earnings per share came in at 3,846 cents in the year ended February compared with 3,270 cents a year earlier.

Headline EPS, the widely watched profit measure in South Africa, strips out certain one-off items. (Reporting by Tiisetso Motsoeneng and Patricia Aruo, Editing by Sherry Jacob-Phillips)

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