Nedbank expects SA economy to shrink 7% in 2020
The banking group warns it expects profits to fall more than 20% in its six months to end-June as it moves to help clients manage cash flow
22 May 2020 - 08:43
Banking group Nedbank said on Friday it expects SA’s economy to contract 7% in 2020, with the group saying it expects profits to fall more than a fifth in its first half as it moves to help clients manage cash flow during the Covid-19 pandemic.
The Covid-19 pandemic is weighing on SA’s economic outlook and the creditworthiness of the banking group’s customers...
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