Clientèle reports steady performance bolstered by 1Life acquisition

Clientèle, a South African financial services group, reported a steady performance for the six months ended December 31, 2024, a period shaped by the consolidation of 1Life Insurance, acquired with regulatory approval on July 14, 2024. The group flagged tough times for customers, saying: “Currently, our market continues to experience difficult economic circumstances, negatively affecting affordability and financial resilience. As a result, Clientèle continues to experience high levels of withdrawals, suspension of debit order mandates, and disputes.” Headline earnings per share increased 3.6% to 51.25 cents from a restated 49.46c in the prior period, while earnings per share soared 217.1% to 156.85c from 49.46 cents, propelled by a once-off bargain purchase gain of R469.1 million linked to the 1Life deal. No interim dividend was declared after a R566.4 million payout…