Sasfin sees more than 20% drop in earnings as impairments increase
The company expects a fall in loans and advances which will result in lower than expected income for the full year period
08 June 2020 - 17:54
Financial and banking services company Sasfin said on Monday that its earnings are likely to drop by more than 20% in the year to end-June largely due to an expected increase in impairments.
“Many of the South African businesses, where Sasfin focuses its lending activities, have been significantly impacted by Covid-19. This has resulted in lower lending volumes, a lower demand for credit, and an increase in impairments,” Sasfin said in a statement...
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