Nedbank not worried by jump in bad debt charge
Increase was expected and is likely to remain within the target range, says CEO Mike Brown
06 August 2019 - 20:23
Nedbank says its charge for bad debts and impairments should remain within the targeted band for the rest of the year despite a sharp increase for the six months ending June.
The country’s fourth-largest bank by assets revised GDP growth downwards from 1.3% to 0.5% at the same time as its saw its credit loss ratio rise sharply from 53 basis points (0.53%) in the prior corresponding period to 70 basis points (0.70%) for the six months to June 2019...
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