Capricorn profit under pressure

Capricorn Group, the parent company of Bank Windhoek, reported a 6.4% decline in profit after tax to N$1.87 billion for the year ended 30 June 2026, from N$1.99 billion a year earlier.

The group attributed the weaker performance to heightened funding costs, macroeconomic pressures and weaker economic conditions in Botswana, where it operates through Bank Gaborone.

Return on equity declined to 15.6% from 18.2%, while basic earnings per share fell to 343.7 cents from 367.3 cents.

The group’s balance sheet strengthened during the period. Net asset value per share increased 6.7% to N$22.77, while the loan-to-funding ratio improved to 83.6% from 88.8%. The total risk-based capital adequacy ratio increased to 19.4% from 18.1%.

Capricorn maintained its ordinary dividend at 135 cents per share. Total dividends declined from 171 cents per share in 2025 to 135 cents in 2026 following the absence of a special dividend.