SA Reserve Bank vouches for Capitec

Capitec Bank in Braamfontein, Johannesburg.
Capitec Bank in Braamfontein, Johannesburg.
Image: WALDO SWIEGERS/SUNDAY TIMES

Capitec is solvent‚ well capitalised and has adequate liquidity‚ the South African Reserve Bank (SARB) said on Tuesday‚ following a scathing report on Capitec issued by a US based fund manager‚ Viceroy.

"As part of our mandate‚ we monitor the safety and soundness of all banks‚ including Capitec Bank Limited (Capitec). According to all the information available‚ Capitec is solvent‚ well capitalised and has adequate liquidity‚" the brief statement by SARB said.

"The bank meets all prudential requirements."

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