Are SA’s banks facing a bad debt crisis?
Credit losses are on the rise and banks’ bad debts may, in fact, get worse as lenders take on a resurgent Absa
Credit losses are on the rise and banks’ bad debts may, in fact, get worse as lenders take on a resurgent Absa
By Frontier Africa Reports
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March 12, 2020 at 7:15 PM GMT+1
After all, credit losses have surged for the three biggest lenders: Standard, Nedbank and FirstRand. Nedbank and Standard Bank both presented results for the year to December 2019 last week and both reported a jump in the credit loss ratio — essentially, the portion of loans that have gone bad.