South Africa's central bank says Capitec solvent, well-capitalised

JOHANNESBURG: 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 US 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.