SA’s large banks continue to be some of the preferred picks in any basket of emerging market stocks, as was reiterated by JP Morgan on Monday. A review of the FTSE/JSE banks index chart shows current prices at levels last seen four and five years ago.
The profitability of the country’s large banks, which are still the backbone of the economy, is deeply influenced by the overall level of economic activity. Investors have been well versed in what has been happening on that front for some time. ..
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