CPI - Capitec Bank Holdings Limited - Voluntary announcement: change in
CPI
CPI
CPI - Capitec Bank Holdings Limited - Voluntary announcement: change in
outlook for Capitec Bank
CAPITEC BANK HOLDINGS LIMITED
Incorporated in the Republic of South Africa
Registration number: 1999/025903/06
Share Code: CPI
ISIN Number: ZAE000035861
("the Company")
VOLUNTARY ANNOUNCEMENT: CHANGE IN OUTLOOK FOR CAPITEC BANK
The board of the Company is pleased to advise Shareholders that Moody`s
Investors Service ("Moody`s") changed the outlook for the A2.za long-term
national scale issuer rating assigned to Capitec Bank Limited ("Capitec"),
the wholly owned banking subsidiary of the Company, from stable to positive
on 28 April 2011. The previous rating action on Capitec`s national-scale
ratings was implemented on 14 May 2008, when the short-term national-scale
rating was upgraded to P-1.za from P-2.za. This rating remains unchanged.
Moody`s note in their press release that the change in the outlook from
stable to positive reflects Capitec`s ongoing success in growing its
franchise, diversifying its business base and maintaining good financial
fundamentals, while successfully navigating through the financial crisis and
macroeconomic slowdown. Capitec had increased its client base to 2.8 million
in February 2011 from 1.0 million in February 2007 and over the same period
has successfully converted from essentially a micro-finance institution to a
retail bank offering affordable banking.
The full credit opinion can be viewed on www.capitecbank.co.za
29 April 2011
Stellenbosch
Sponsor
PSG Capital (Pty) Limited
Date: 29/04/2011 12:04:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
