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Capitec denies overstating or misrepresenting loan book

The lender had previously said it would investigate the report by Viceroy which triggered a more than 20% slide in its shares last week.

Picture: @CapitecBankSA

JOHANNESBURG - South African lender Capitec Bank Holdings denied misrepresenting its loan book on Monday after a report by US firm Viceroy Research accused it of overstating its income and assets last week.

“The reconciliation of our loan book is incorrectly stated in the Viceroy report,” said Capitec in a statement.

The lender had previously said it would investigate the report by Viceroy which triggered a more than 20% slide in its shares last week.