Capitec: We don't understand the Viceroy numbers
Capitec has rubbished allegations of irresponsible lending practices.
The bank's CEO Gerrie Fourie addressed media in Cape Town on Tuesday, following allegations by the US-based fund manager Viceroy that it is engaging in reckless lending practices and is overstating its financial assets and income.
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Fourie says financial experts have gone through the Viceroy report with a fine-tooth comb.
"We are struggling to understand and reconcile the numbers that they have done.
"On the repayments of loans in a particular year we have published a figure of R18 billion, they are at R16 billion. If we look at our arrears we talking R5 billion, they are talking R3 billion."
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Capitec says it will continue to analyse the report to get a better understanding of its contents.
Earlier, the South African Reserve Bank (SARB) reacted to the Viceroy report by saying Capitec is solvent, well capitalised and has adequate liquidity.