CLOSE X
Advertisement

Moody's cuts Capitec’s financial strength rating

Companies

Johannesburg - Ratings agency Moody's cut the financial strength rating of South Africa's Capitec Bank by one notch to D on Friday, citing concerns about its exposure to risky consumer lending.

Moody's said in a statement it had cut Capitec's financial strength rating to D from D+, adding that all of the bank's ratings would be put on review for further downgrades.

Share this story
Cape Town - 101011 - Banking Fees - CAPITEC Bank has been found to have the lowest fees. Photo: Matthew Jordaan

Concerns about consumer lending in Africa's most developed economy have increased since the central bank launched a R17 billion rescue of African Bank Investments last week. - Reuters

Share this story
Advertisement
X