Capitec solvent, well-capitalised

JOHANNESBURG (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 notes a report by a U.S. based fund manager. As part of our mandate, we monitor the safety and soundness of all banks, including Capitec Bank … The bank meets all prudential requirements,” the bank said in a statement.

(Reporting by Ed Stoddard; Editing by James Macharia)

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