Nedbank sees ‘steep’ increase in bad debts during lockdown
The bank has restructured agreements equivalent to 10% of its total loan book
24 May 2020 - 16:59
Nedbank has seen a steep increase in impairments since the lockdown began and had restructured loans amounting to 10% of its loan book, the country’s fourth-largest bank by assets said on Friday.
“As at the end of April 2020 we had proactively approved and concluded restructures for eligible clients amounting to approximately R81bn,” Nedbank said in a voluntary update on Friday. ..
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