JOHANNESBURG - Following a recent public interaction between research company, Viceroy Research and South Africa’s second largest retail bank as of 2017,Capitec, the amount of shares sold short in Capitec has remained the same.
According to reports, between 1% and less than 5% of the bank's 115.6-million issued shares were out on loan to investors who sold them on, betting on a plunge in the bank’s share price. At the top end of this range, the short positions were worth R4.8bn at Friday’s market prices.
Capitec financial director André du Plessis told Business Day, "The short positions were normal and did not necessarily originate from Viceroy’s report. Short positions can be taken at any moment and will always be present in the market. People differ in their outlook on the future and [on] market players."
The bank also announced their revised fees for the year 2018. The group which claimed 9.2 million clients in 2017, updates their banking fees annually on March 1.
It is also renowned for its unique one type of banking card, the Global one. This account is multi functional while users have the option of creating their unique terms as it allows users to save as well as invest.
“The majority of Capitec clients - over 5 million - pay under R50 in bank costs each month, and many clients earn more in interest than the fees they pay,” it said.
- BUSINESS REPORT ONLINE