February 5, 2018 / 10:46 AM / 4 months ago

South Africa's Capitec deny overstating or misrepresenting loan book

JOHANNESBURG, Feb 5 (Reuters) - South African lender Capitec Bank Holdings denied misrepresenting its loan book on Monday after a report by U.S. firm Viceroy Research accused it of overstating its income and assets last week.

“The reconciliation of our loan book is incorrectly stated in the Viceroy report,” said Capitec in a statement.

The lender had previously said it would investigate the report by Viceroy which triggered a more than 20 percent slide in its shares last week. (Reporting by Tanisha Heiberg; Editing by James Macharia)

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