By South African Reserve Bank and Reuters

South Africa’s central bank said on Tuesday Capitec Holdings was “solvent, well capitalised and has adequate liquidity” in response to a research note by Viceroy Research suggesting the lender overstates financial assets and income.

The South African Reserve Bank (SARB) 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 Bank Limited (Capitec). According to all the information available, Capitec is solvent, well capitalised and has adequate liquidity. The bank meets all prudential requirements.