Capitec defends its lending policies

Capitec CEO Riaan Stassen says he was taken aback by the National Credit Regulator’s decision and was spurned when he tried to meet the CEO

  • UPDATE 2-S.African banks ease pace of unsecured lending(xe.com)South Africa’s banks have cooled the pace of unsecured lending amid fears of rising impairments from weak growth in the continent’s top economy, central bank data on Monday showed. The market for unsecured loans, which are not backed by collateral, has grown rapidly in recent years as the country’s leading banks such as Standard Bank joined niche…

  • Reprint – “Lenders scramble for distance from African Bank”(mascareignas.blogspot.com)  Business Report (South Africa) The past week has seen almost everyone who has anything to do with the unsecured lending market jump up and energetically explain why they are different to African Bank, the share price of which slumped 22 percent in just a few days. Capitec rushed to explain to the less discerning among us that it had moved from…

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