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From Capitec Bank On 15 August 2014, Moody’s Investor Service (Moody’s) downgraded Capitec Bank’s international deposit ratings to Ba2/NP from Baa3/P-3 and its national scale ratings to Baa1.za/P-2.za from A2.za/P-1.za. All ratings with the exception of the short term No Prime ratings were also placed on further review. The reasons for the downgrade, according to … Read more
Capitec Bank says it has become an unwitting victim of the Abil collapse as global ratings agency Moody’s this evening announced a two notch downgrade of Capitec’s credit rating. The bank’s financial director Andre du Plessis described the Moody’s decision as a “total knee jerk reaction – we had a 30 minute telephone conversation with … Read more
Nedbank‘s CEO Mike Brown joined Alec Hogg on CNBC Africa’s Power Lunch to chat about Nedbank’s interim results, as well as his stewardship of Nedbank in the future. The group delivered satisfactory results for the six month period that ended in June, especially when considering peer company results. For more insight into the results from … Read more