Viceroy takes aim at Capitec

zippy said:
Yes, leave Capitec alone. Especially since "we" bank there and we dont want this to be true :)
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No. The reason why I am upset is because this is not the first time that a foreign country fcks with a big financial institution in this country that could have massive repercussions. One of the big credit rating agencies did a downgrade on Capitec a year or two ago and even SARB went WTF!!!???? Then we had the foreign banks that is/was involved in the manipulation of the Rand to their benefit. Then we have this foreign PR company that was involved with the Guptas and stirring sh*t. Now that was not on one of our financial institutions, but WORSE! Influincing our political landscape and potentially causing mass civil unrest.

If this report is shown to be blatantly untrue, I really REALLY hope Capitec takes action.
 
Shorting Capitec ahead of that announcement was easy money.
 
I wonder if Capitec would close down if Viceroy's claims turns out to be true? I've personally seen banks in Eastern Europe close down, people queing for hours hoping to get some of their savings back. Really sad site to see but I feared it might happen here one day.
 
Sinbad said:
Is it?

On my latest credit card statement

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Mine is double that and just a Gold account. Probably nothing I can do.

My Virgin one is more like yours.
 
Ockie said:
No. The reason why I am upset is because this is not the first time that a foreign country fcks with a big financial institution in this country that could have massive repercussions. One of the big credit rating agencies did a downgrade on Capitec a year or two ago and even SARB went WTF!!!???? Then we had the foreign banks that is/was involved in the manipulation of the Rand to their benefit. Then we have this foreign PR company that was involved with the Guptas and stirring sh*t. Now that was not on one of our financial institutions, but WORSE! Influincing our political landscape and potentially causing mass civil unrest.

If this report is shown to be blatantly untrue, I really REALLY hope Capitec takes action.
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A foreign country?

Viceroy is literally three guys doing research on companies, not even a company.

It’s like if my brother, my SO and I say that Goldman Sachs is bad and that the US classify it as an attack on their sovereignty.
 
supersunbird said:
There you go (also excludes you from being the normal man in the street as per other thread, sorry bro)
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Promised, tomorrow I throw the black, go to Capitec and take 5 loans to repay my credit card and get a Capitec debit card.

Just to be able to argue with saturnz, it’s way too fun.
 
supersunbird said:
My Virgin one is more like yours
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Wow I actually had to log in to double check, assumed Virgin's rate is also sky high. What do you know, mine's on 15.25%

Not that it matters in the least, I've never let the balance hang around long enough in the red to accrue interest.
 
Ockie said:
I dont know why Capitec is constantly being equated with African Bank. African Bank is pretty much a loan provider, not a bank. They dont have deposits, they dont have transaction fees from transactional banking etc etc. Capitec does. Completely different business models. /sigh
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It's because their fees are very low R10 vs R200 and their interest rates higher than other banks.

Basically you need a lot of those R10's( or however much their banking account costs now) and their other income is exactly the same as african bank hence the comparison.

Don't forget they have running costs same as everyone.

crocopede said:
Its not jumping in a fire. I just shifted my cash out of capitec. If they survive this ordeal then i go back.
I was very young but i recall some news about a bank and then that bank stopped existing in the 80s. Or was it early 90's.

Cant recall.
Either way... the quote of blah large groups of stupid people dangerous etc blah stuff. You know... internet
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saturnz said:
so much so that you had to block me and try to convince me that you blocked me

makes sense
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You can’t get over the fact that I can change my mind, so you?

Interesting that Benguela comes to the party.
 
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