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CAPE TOWN - The same research group that exposed Steinhoff for accounting fraud, Viceroy Research, has now accused Capitec of underhanded business practices. 

After releasing a report , Viceroy Research alleges that Capitec has been engaging in what it called "reckless lending practices". 

When releasing the report, Viceroy also took to twitter stating the following; "Capitec: A wolf in sheep’s clothing. Viceroy’s latest report is now". 

At about 2pm, Capitec saw their share price slightly recover, following the announcement made by the SA Reserve Bank, stating that the bank is not facing bankruptcy. 

Also read: SA Reserve bank will not place Capitec under curatorship

 

 

 

 



In response, Capitec also took to twiiter saying, " We have taken note of the Viceroy report on Capitec Bank. We are currently in the process of investigating the report in detail and will respond appropriately". 

Also read: Capitec responds to 'loan shark' accusations

 

The matter is currently trending on twitter, and this is what South African's have to say:

 

 

Also read: Who is Viceroy and why do their accusations matter?

- BUSINESS REPORT ONLINE