CAPITEC BANK LIMITED - S&P Global Ratings Affirmed Capitec Bank's Ratings - BICAP

S&P Global Ratings Affirmed Capitec Bank's Ratings - BICAP

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

S&P GLOBAL RATINGS AFFIRMED CAPITEC BANK’S RATINGS

S&P Global Ratings affirmed all of the counterparty credit
ratings of Capitec Bank, the wholly owned subsidiary of
Capitec.

The international scale long- and short-term ratings remain at
‘BB+/B’. The South African national scale long- and short-term
ratings remain constant at ‘zaA/zaA-2’. The outlook for these
ratings remains negative. S&P state that ‘the negative outlook
reflects South Africa’s slowdown in economic growth, high
inflation, and the positive interest rate cycle, which is
placing additional pressure on financial institutions’ asset
quality and earnings.’

Stellenbosch
09 September 2016
Sponsor: PSG Capital (Pty) Limited

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