CAPITEC BANK HOLDINGS LIMITED - Capitec Bank (A Wholly Owned Subsidiary Of Capitec: Issuer Credit Ratings And Positive Outlook Affirmed

Capitec Bank (A Wholly Owned Subsidiary Of Capitec: 
Issuer Credit Ratings And Positive Outlook Affirmed

Capitec Bank Holdings Limited
Registration number 1999/025903/06
Incorporated in the Republic of South Africa
Registered bank controlling company
JSE ordinary share code: CPI ISIN code: ZAE000035861
JSE preference share code: CPIP ISIN code: ZAE000083838
("Capitec")

Capitec Bank Limited
Registration number 1980/003695/06
Incorporated in the Republic of South Africa
Registered bank
Company code: BICAP
("Capitec Bank")

CAPITEC BANK (A WHOLLY OWNED SUBSIDIARY OF CAPITEC:
ISSUER CREDIT RATINGS AND POSITIVE OUTLOOK AFFIRMED

S&P Global Ratings ("S&P") revised their Banking Industry
Country Risk Assessment (BICRA) anchor for South African banks
upwards from "bb+" to 'bbb-'based on their view that the South
African banking system has transitioned into an expansionary
phase and that the risk of economic imbalances has declined.
S&P's view is based on their expectation that real estate
prices will increase moderately in nominal terms and that
lending growth will remain cautious and mainly driven by
infrastructure investments.

S&P thus affirmed Capitec Bank's global scale issuer credit
ratings of 'BB-/B' and positive outlook along with the South
Africa national scale ratings of 'zaAA/zaA-1+'.

S&P advised that Capitec Bank's ratings could move in tandem
with the sovereign's ratings if action is taken on the
sovereign in the next 12 months.

3 July 2025
Stellenbosch

Capitec Equity Sponsor: PSG Capital Proprietary Limited
Capitec Bank Debt Sponsor: PSG Capital Proprietary Limited

Date: 03-07-2025 11:05:00
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