Capitec Bank denounced as a loan shark
Channel: F5 News
Date: 2018-01-30

Capitec Bank denounced as a loan shark.

"Based on our research and due diligence‚ we believe that Capitec is a loan shark with massively understated defaults masquerading as a community micro-finance provider. We believe that the South African Reserve Bank and Minister of Finance should immediately place Capitec into curatorship."
That is the statement from Viceroy Research‚ the company that first flagged irregularities at Steinhoff.
Capitec Bank‚ in response‚ has stated: "We have taken note of the Viceroy report on Capitec Bank. We are currently in the process of investigating the report in detail and will respond appropriately."
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