'We believe our credit policies are correct' - Capitec CEO Gerrie Fourie on Viceroy saga
Capitec CEO Gerrie Fourie discusses the bank's financial results amongst other things as the JSE darling reports bumper earnings. Fourie explains that although earnings can not comparable to 2020, due to the onset of the coronavirus pandemic and ensuing lockdowns, but have increased by 35% since 2019. That equates to a 16% compounded earnings growth rate over the period. Lastly, the Viceroy saga is well and truly behind Capitec as the FSCA slapped the short-seller with a R50m fine for making ‘false, misleading and deceptive statements’ about Capitec in 2018, which led to a 23% drawdown in its share price.