January 30, 2018 / 9:03 AM / in 9 months

Capitec's CFO dismisses research report as bank shares fall

JOHANNESBURG, Jan 30 (Reuters) - Capitec’s Chief Financial Officer Andre du Plessis on Tuesday dismissed a report by U.S. firm Viceroy Research accusing the South African lender of overstating its income and assets, saying the allegations were “totally unfounded.”

“It’s very surprising that someone writes a report who knows nothing about us. There’s a total lack of understanding of what we do,” du Plessis told Bloomberg TV. (Reporting by Tiisetso Motsoeneng and James Macharia)

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