Capitec Bank has responded to new allegations made by Viceroy Research.
The bank went into great detail to "address the following incorrect conclusions of the Viceroy report that are both fundamentally flawed and misleading".
National Treasury has gone in to bat hard for Capitec, saying the Viceroy report is reckless.
"Our stocks dropped before the report came out. This shows certain people may have known before," says Capitec CEO.
The bank is assuring clients that everything is under control via SMS.
Meanwhile, the Democratic Alliance wants Capitec probed instead.
Capitec has recovered slightly from the knock it took after the Viceroy report was published on Tuesday morning.
If the process we encountered is anything to go by, Viceroy's claims that Capitec lends money to those who can't pay it back are very shaky.
“Viceroy Research seems to be exploiting the gap in the broader political economy in South Africa."
"Capitec is solvent, well capitalised and has adequate liquidity," says the South African Reserve Bank.
"Worried now. Should we withdraw our money?"
The research team was previously responsible for uncovering financial irregularities at Steinhoff.
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