The South African Reserve Bank (SARB) refused Viceroy Research’s invitation to place Capitec under curatorship saying the bank “meets all prudential requirements.”
Earlier in the day, Viceroy Research accused Capitec of being a “loan shark” and says it defaults will unravel eventually. In then called on the central bank and National Treasury to place the bank under curatorship.
The central bank says it notes a report by a US-based fund manager. “As part of our mandate, we monitor the safety and soundness of all banks, including Capitec.”
“According to all the information available, Capitec is solvent, well capitalised and has adequate liquidity,’’ says the SARB. The National Treasury has yet to respond to the Viceroy report while Capitec is scheduled to brief the media later in the day but has already distanced itself from the report. – BUSINESS REPORT