Capricorn group profits rise 14.8% to N$1.99 billion
Capricorn Group this week reported a 14.8% rise in annual profits to N$1.99 billion, up from N$1.74 billion the previous year.
The group, which owns Bank Windhoek in Namibia and Bank Gaborone in Botswana, said the strong performance was driven by increased digital banking transactions and growth in assets under management.
Group CEO David Nuyoma said the results reflected the group’s focus on sustainable growth.
“This year’s achievements are a direct result of the collective effort of everyone in the organisation. Our commitment to improving lives through leadership in financial services, by being Connectors of Positive Change, has positively impacted many lives this past financial year,” he said.
The group’s loan book grew by 3.7% to N$52.5 billion, while income from fees and commissions rose by 13.1%. Much of this growth came from customers using digital banking services more frequently.
Group financial director Johan Maass credited the performance to strong results across the group’s businesses in both Namibia and Botswana.
“The financial performance is attributed to excellent results and solid all-round performances across the group’s portfolio of businesses in Namibia and Botswana, which includes the banking subsidiaries Bank Windhoek and Bank Gaborone, as well as Capricorn Asset Management, Entrepo, Peo Finance and our associates Paratus, Sanlam Allianz Namibia and Santam Namibia,” he said.
Operating costs rose by 10.8%, mainly due to higher technology spending and increased transaction volumes. However, the company maintained its cost-to-income ratio at 49.5%, down from 50% the previous year.
Bad debts remained steady at 4% of total loans, with the company setting aside N$315 million for potential loan losses, down from N$328 million in 2024.
Capricorn also maintained strong cash reserves of N$18.7 billion and a capital adequacy ratio of 18.1%, well above the regulatory minimum of 12.5%.
Shareholders will receive a final dividend of 74 cents per share, bringing the total ordinary dividend to 135 cents per share for the year – a 20.5% increase. The company also declared a special dividend of 36 cents per share, meaning shareholders will receive a total of 171 cents per share.
The final and special dividends will be paid on 24 October 2025.
The group, which owns Bank Windhoek in Namibia and Bank Gaborone in Botswana, said the strong performance was driven by increased digital banking transactions and growth in assets under management.
Group CEO David Nuyoma said the results reflected the group’s focus on sustainable growth.
“This year’s achievements are a direct result of the collective effort of everyone in the organisation. Our commitment to improving lives through leadership in financial services, by being Connectors of Positive Change, has positively impacted many lives this past financial year,” he said.
The group’s loan book grew by 3.7% to N$52.5 billion, while income from fees and commissions rose by 13.1%. Much of this growth came from customers using digital banking services more frequently.
Group financial director Johan Maass credited the performance to strong results across the group’s businesses in both Namibia and Botswana.
“The financial performance is attributed to excellent results and solid all-round performances across the group’s portfolio of businesses in Namibia and Botswana, which includes the banking subsidiaries Bank Windhoek and Bank Gaborone, as well as Capricorn Asset Management, Entrepo, Peo Finance and our associates Paratus, Sanlam Allianz Namibia and Santam Namibia,” he said.
Operating costs rose by 10.8%, mainly due to higher technology spending and increased transaction volumes. However, the company maintained its cost-to-income ratio at 49.5%, down from 50% the previous year.
Bad debts remained steady at 4% of total loans, with the company setting aside N$315 million for potential loan losses, down from N$328 million in 2024.
Capricorn also maintained strong cash reserves of N$18.7 billion and a capital adequacy ratio of 18.1%, well above the regulatory minimum of 12.5%.
Shareholders will receive a final dividend of 74 cents per share, bringing the total ordinary dividend to 135 cents per share for the year – a 20.5% increase. The company also declared a special dividend of 36 cents per share, meaning shareholders will receive a total of 171 cents per share.
The final and special dividends will be paid on 24 October 2025.
