By: Capitec Bank
Capitec Bank has responded to the latest allegations by American short-seller, Viceroy Research Group, saying its new report is again filled with factual inaccuracies, misleading half-truths and sensationalist statements.
Capitec says: “We again extend an open invitation to Viceroy to contact us and will be happy to clarify any questions about the industry and Capitec Bank.”
“Capitec operates in one of the best-regulated financial industries in the world. Various regulators and government institutions have confirmed their support of Capitec since the release of the Viceroy Report. In addition, international independent rating agency, Standard and Poor’s, said that the report had no bearing on its rating of the bank.”
Capitec Bank, as with all financial institutions, are continually assessed within the framework of the country’s robust regulatory environment and regular meetings with the relevant regulators are held.
“We encourage anyone with allegations of wrongdoing to share the information and documentation with the National Credit Regulator or other relevant regulators, so that the normal regulatory processes can be followed. This applies to Viceroy as well.”
Capitec said it will not engage in mudslinging and it remains committed to full disclosure and transparency – values that Capitec were founded on 17 years ago. “Our doors will remain open to answer questions from media, clients and investors – as well as Viceroy.”