Standard Bank, Africa’s largest commercial lender, says it is bracing for an economic shock exceeding that of the financial crisis about a decade ago, expecting an earnings hit of about a fifth in the first half.

And there may be yet more pain for SA banks even after the out-sized share losses in 2020, analysts say.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now