Write a report in which you assess the financial performance and position of Capitec Bank FROM 2021 until 2023. Your assessment must draw on the various types of analytic tools that you may have researched relating to PERFORMANCE ANALYSIS USING FINANCIAL STATEMENTS.

Financial position:

Income Statement:

Cash flow:

\begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Capitec Bank Income statements 2021-2023 } \\ \hline \multirow[b]{2}{*}{R000} & \multicolumn{3}{|c|}{ Group } & \multirow[b]{2}{*}{2023} \\ \hline & Notes & 2021 & 2022 & \\ \hline \multirow{2}{*}{\begin{tabular}{l} Lending, investment and insurance income \\ Interest income calculated using the effective interest rate \end{tabular}} & 24 & 18478160 & 19962749 & 24175550 \\ \hline & 24 & 16544268 & 17454315 & 20783348 \\ \hline Interest income of financial assessts at FVTPL & 24 & & _ & 415915 \\ \hline Loan fee income & 24 & 968658 & 968856 & 1087787 \\ \hline Net insurance income & 24 & 965234 & 1539578 & 1888500 \\ \hline Lending and investment expenses & 24 & (5055828) & (4856145) & (7001785) \\ \hline Interest expense & 24 & (4984423) & (4837898) & (6992691) \\ \hline Loan fee expense & 24 & (71405) & (18247) & (9094) \\ \hline Net lending, investment and in surance income & & 13422332 & 15106604 & 17173765 \\ \hline Transaction fee and commission income & 24 & 12039376 & 14533033 & 16561749 \\ \hline Transaction fee and commission expense & 24 & (3 331885) & (4018567) & (5100638) \\ \hline Net transaction commission income & 24 & 8707491 & 10514466 & 11461111 \\ \hline Foreign currency income & & 409165 & 497605 & 494778 \\ \hline Foreign currency expense & & (298413) & (353212) & (332348) \\ \hline Net foreign currency income & & 110752 & 144393 & 162430 \\ \hline Dividend income & 25 & - & \begin{tabular}{ll} - & \end{tabular} & - \\ \hline Funeral plan income & 9 & 650249 & 905847 & 1430912 \\ \hline Other income & & 113813 & 290024 & 79200 \\ \hline Credit impairments & 26 & (7824721) & (3507754) & (6329385) \\ \hline Net income & & 15179916 & 23453580 & 23978033 \\ \hline Operating expenses & 27 & (9462434) & (12 555023) & (11876702) \\ \hline Share of net profit of associates and joint ventures & 12 & \( \left(\begin{tabular}{lll} 7 ight. \) & 063 \end{tabular}) & 36189 & 97750 \\ \hline Impairment of investment in associate & 12 & (122 202) & _ & \\ \hline Operating profit before tax & & 5588217 & 10934746 & 12199081 \\ \hline Income tax expense & 28 & (1130133) & (2407724) & (2491811) \\ \hline Profit for the year & & 4458084 & 8527022 & 9707270 \\ \hline Earnings per share (cents) & & & & \\ \hline Basic & 29 & 3850 & 7371 & 8415 \\ \hline Dilutes & 29 & 3848 & 7360 & 8392 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Capitec Bank Statements of Cash Flows 2021- 2023} \\ \hline \multirow[b]{2}{*}{R000} & \multicolumn{4}{|c|}{ Group } \\ \hline & Note & 2021 & 2022 & 2023 \\ \hline \multicolumn{5}{|l|}{ Cash flows from operating activities } \\ \hline Cash flows from operations & 36.1 & 31087476 & 5032379 & (6679900) \\ \hline Income tax paid & 36.2 & \( \left(\begin{tabular}{llllll} 1 ight. \) & 357 & 299 \end{tabular}) & (2844582) & (2545722) \\ \hline Interest received & 36.9 & & 16680581 & 20438606 \\ \hline Interest paid & 36.1 & & (4 852841) & (6958102) \\ \hline \multicolumn{5}{|l|}{ Dividend received } \\ \hline & & 29730177 & 14015537 & 4254882 \\ \hline \multicolumn{5}{|l|}{ Cash flows from investing activities } \\ \hline Acquisition of property and equipment & 13 & (543315) & (745552) & (934422) \\ \hline Disposal of property and equipment & 13 & 10352 & 10810 & 16826 \\ \hline Acquisition of intangible assets & 15 & (293859) & (116988) & (228 841) \\ \hline Loans to group companies -granted & & _ & - & _- \\ \hline Loans to group companies - repaid & & - & _ & _ \\ \hline Disposal of preference shares in subsidiary & & _ & _- & _ \\ \hline Investment in term de posit investments & 7 & (3 275 617) & (1200000) & (3650000) \\ \hline Redemption of term de posit investments & 7 & 2975617 & 800000 & 900000 \\ \hline Acquisition of financial inve stments at amortised cost & 6 & (38849758) & (63671460) & (47216977) \\ \hline Redemption of financial investments at amortised cost & 6 & 21026817 & 36477246 & 49652992 \\ \hline Acquisition of financial assets at FVTPL & & (1461000) & - & _ \\ \hline Redemption of fin ancial assets at FVTPL & 5 & _ & 2960220 & - \\ \hline Decrease in short-term money market investments & & 13863 & 11511 & - \\ \hline Acquisition of financial inve stments at FVOCl & 11 & _- & (1725) & \\ \hline Interest acquired in associates and joint ventures & 12 & (25300) & - & (61800) \\ \hline Acquisition of subsidiary net of cash acquired & 12 & (55000) & _- & - \\ \hline \multirow[t]{2}{*}{ Insurance recovery - civil unrest } & 43 & & 198292 & \\ \hline & & (20477200) & (25277646) & (1522 222) \\ \hline \multicolumn{5}{|l|}{ Cash flow from financing activities } \\ \hline Dividends paid & 36.5 & (6130) & (3 238052) & (6189475) \\ \hline Loans from group companies - granted & 36.6 & - & - & - \\ \hline Loans from group companies - repaid & 36.6 & _ & _- & _ \\ \hline Preference shares repurchased & 22 & (19528) & (5183) & (2540) \\ \hline Issue of institutional bonds and other funding & 17 & _. & 750000 & 750000 \\ \hline Redemption of institutional bonds and other funding & 17 & (1807383) & (1000000) & _ \\ \hline Payment of lease liabilities & 36.7 & (248259) & (320117) & (370303) \\ \hline Shares acquired for settlement of employee share options & 36.8 & (160381) & (17452) & (111234) \\ \hline Participants' contribution on settle ment of options & 36.8 & 72104 & 20773 & 34146 \\ \hline Izindaba Enzinhle Employee Share Scheme & 39.2 & _ & - & _- \\ \hline \multirow[t]{2}{*}{ Treasury shares repurchased } & 22 & & & (120593) \\ \hline & & (2169577) & (3810031) & (6009999) \\ \hline \multicolumn{2}{|l|}{ Effect of exchange rate changes on cash and cash equivalents } & 17279 & 2772 & 52198 \\ \hline Net (decrease)/increase in cas h and cash equivalents & & 7100679 & (15069368) & (3225 141) \\ \hline Cash and cash equivalents at the end of the year & 4 & 42208517 & 49309196 & 34239828 \\ \hline Cash and cash equivalents at the beginning of the year & 4 & 49309196 & 34239828 & 31014687 \\ \hline \end{tabular}