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Posts Tagged ‘Capitec Bank’
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April 1, 2019

5 things you need to know in SA business today .

 

Tito Mboweni has lashed out at Sanral, criticising the agency’s decision to suspend summonses to recover e-toll debt.

“They [the board] must reverse the decision. It has implications for the bond market, it has implications for the fiscus. It has implications for their own credit rating and the credit rating of the country,” Mboweni said.

 

The repo rate remained unchanged yesterday, with the Reserve Bank worried about growth given loadshedding and weak business confidence. But it also expects that inflation will tick higher over the medium term due to the large Eskom tariff hikes and higher petrol prices. Trevor Manuel has threatened [...]
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February 15, 2018

Is Capitec Another Steinhoff? Not Quite.

The South African market was shook on Tuesday when Viceroy Research released a damning report that claimed that Capitec bank “is a wolf in a sheep’s clothing and a loan shark”. Viceroy also said that the reserve bank and finance ministry must immediately place the bank under curatorship. Capitec stock fell by about 20% as a result. The group played a role in bringing to light the financial mismanagement of the Steinhoff Group last year. But what does all of this mean? The Daily Vox spoke with Michael Porter, a trader at Unum Capital to make sense of it all.

Firstly, who is Viceroy Research?

Viceroy Research is a now well-known firm that published an explosive report on [...]

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June 27, 2017

South African banks rated strongest in the world

The international banking advisory group, Lafferty, has rated South African banks as the strongest globally. Lafferty ranked 100 major banks in 32 countries for long-term stability and quality of service in the corporate and retail banking industry.

The group said independent downgrades that recently plunged South Africa into junk status haven’t affected the quality of the banks. The five South African banks in the study were Absa, Capitec, First Rand, Nedbank and Standard Bank.

This is the second year in a row that South African banks have achieved the highest ranking.

Source: https://www.enca.com/money/sa-banks-rated-strongest-globally

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