CAPITEC BANK HOLDINGS LIMITED - Capitec Bank Global scale ratings

Capitec Bank Global scale ratings

Capitec Bank Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1999/025903/06)
(JSE share code: CPI & ISIN : ZAE000035861 and CPIP : ISIN
: ZAE000083838)
("Capitec" or "the company")

Capitec Bank Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1980/003695/06)
Company code: BICAP
(“Capitec Bank” or “the bank”)

CAPITEC BANK GLOBAL SCALE RATINGS

The boards of Capitec and Capitec Bank, the wholly owned
banking subsidiary of Capitec, are pleased to announce that
Moody’s Investors Service has assigned global scale
Baa3/Prime-3 long and short-term deposit ratings to Capitec
Bank. The rating agency has also assigned a D+ standalone
bank financial strength rating (BFSR), which is equivalent
to a baseline credit assessment (BCA) of ba1. Capitec
Bank’s national scale issuer ratings have been affirmed at
A2.za/P-1.za. All ratings carry a stable outlook.

In Moody’s ratings rationale, they mention that, in
addition to robust profitability metrics, Capitec Bank’s
retail funding provides around 60% of its total deposits at
February 2013. This has reduced funding concentrations and
broadened the bank’s funding profile.

These international investment grade ratings will in future
afford the bank the opportunity to explore additional
funding options in the global financial markets and thus
diversify its funding profile further.

Capitec reported solid capitalisation levels with a capital
adequacy ratio of 41% as at 28 February 2013, which
provides a platform for growth going forward. In the 2013
annual results released last week, Capitec reported that
banking transactional income now covers 45% of banking
operating expenses.


Stellenbosch
2 April 2013
Sponsor: PSG Capital (Pty) Limited

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