Business In The News South Africa

Capitec Bank disputes First National Bank claim on biometric ATM

JOHANNESBURG, May 8 – Retail bank Capitec on Tuesday disputed a claim by rival First National Bank that it had become the first bank in South Africa to introduce a mini-ATM that uses biometrics as a means of validation for consumers. “Capitec was in fact the first bank in South Africa to introduce biometric verification technology, back in 2012,” […]

Business In The News South Africa

Members of Parliament raise deeper concerns over Capitec

PARLIAMENT, March 20 – Members of Parliament’s standing committee on finance on Tuesday said they were not convinced by assurances that allegations against Capitec are unfounded and called for a proper investigation to protect the bank’s clients. The committee received a briefing from, among others, the South African Reserve Bank’s (Sarb’s) registrar of banks Kuben Naidoo. He […]

Business In The News South Africa

Capitec denies Viceroy allegations of reckless lending practices

JOHANNESBURG, January 30 – Capitec Bank of Tuesday “strongly refuted” allegations made by US researcher Viceroy that said it had compiled evidence suggesting the company must take significant impairments to its loans. Shares in Capitec Bank tumbled as much as 20 percent on Tuesday after the announcement by Viceroy which said it had done extensive due diligence […]