Capitec Bank

The South African Reserve Bank (SARB) says while it has taken note of rating agency Moody's decision to downgrade Capitec Bank Limited, it does not agree with the decision. Two reasons were given for the rating action: a lower likelihood of sovereign systemic support based on decisions recently taken in relation to African Bank Limited (African Bank), and heightened concerns regarding the risk inherent in Capitec's consumer lending focus. "The SARB notes the decision by Moody's Investors … [Read more...] about SARB disputes downgrade of Capitec Bank