Viceroy Research has decided to double-down on its damning report issued against Capitec last week, and believes that the South African Reserve Bank is mistaken in showing continued support to the bank.<\/p>\n
In a note published on the short-seller’s website on Monday morning<\/a><\/strong>, Viceroy said that the Reserve Bank had mistakenly\u00a0decided to stake its reputation on the accuracy of Capitec’s accounts.<\/p>\n “The South African Reserve Bank has a responsibility to determine whether the information provided to them \u2013 and on which they base their regulatory decisions is accurate. We do not think it is,” it said.<\/p>\n “The SARB has, at this point, a responsibility to perform a full regulatory inspection of Capitec. Viceroy remains firm in its belief that this will result in SARB placing Capitec into curatorship.”<\/p>\n Viceroy Research was thrust into the spotlight late last year after it published a detailed report of the irregularities at Steinhoff – shortly after the company said it would not be able to publish its annual financial results due to irregularities in its accounting.<\/p>\n