SBI denies takeover report of SA bank
Hot on the heels of a leading Chinese bank's purchase of a stake in Standard Bank, came claims of a bid by the State Bank of India (SBI) to take over South Africa's Capitec Bank. The SBI has since denied the reports.
The Economic Times in New Delhi had earlier published a story about the proposed takeover bid, sparking strong market speculation that saw Capitec's share price rocket, but both banks have strongly denied the claims.
