Capitec surprises market watchers

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Capitec surprises market watchers

CAPITEC’S half-year results, released on Monday, revealed a better quality loan book than market watchers were expecting. The unsecured lender has been under the spotlight since its website chief competitor, African Bank, failed under the weight of its bad debt and had to be placed under curatorship.

Although African Bank, under curator Tom Winterboer, is still a going concern offering unsecured lending, Capitec said it had picked up customers from the fallout and expected to further gain market share as a result…

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