SA Twitter reacts as Viceroy targets Capitec

A screengrab of Viceroy's Twitter page
A screengrab of Viceroy's Twitter page

Cape Town - Twitter SA's reaction to research group Viceroy's new report claiming SA bank Capitec was a "loan shark" was swift, and mixed. 

The US-based group released its latest report on Tuesday morning, which caused Capitec's share price to fall by 20%, before recovering to trade 12.3% down by 13:00.  

Capitec has been one of SA's best performing banks in recent years, picking up numerous awards. In September 2017 it was named SA's favourite bank at the annual Sunday Times Top Brands awards.

The same month it overtook Nedbank to become SA's fourth-largest bank by market capitalisation. 

On Tuesday, its CEO Gerrie Fourie called allegations included in Viceroy's report "baseless".  

"We strongly refute these allegations and are in the process of gathering information to respond to the claims made in the report with facts," he said. 

Reaction on social media was as usual, very swift:

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