#MarketSenseNumber of the day: -3.94%
117 views · Published 3 July 2018 · 2:00 · Indexed 20 September 2026
Channel: SABC News · 2018 · News & Politics
The number of the day relates to a specific share. Capitec Bank is an up and coming bank that has been gaining customers and challenging the dominance of the traditional big four banks in South Africa. But shares in the bank fell today on news that - by all accounts - is fake news. Capitec shares fell by 5% this morning. They closed over three percent lower. This even though the Reserve Bank has denied that it requested a probe into Capitec's fees on a discontinued loan product. The concern is that Capitec could have been involved in irresponsible lending and it's a concern that was raised a few months ago by a small US outfit. But the Bank says the National Credit Regulator was asked to look into just a claim months ago. Since then it was reported that the NCR did not find evidence of reckless lending. According to Capitec, there is no investigation. It told the SABC it didn't want to respond to fake news. For more news, visit: sabcnews.com
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