BAD DEBT RISING
Lockdown hits FirstRand and Absa earnings hard
13 August 2020 - 05:10
Two of the country’s largest banking groups say earnings will fall more than a third on a like-for-like basis for the year to end-June due to rising bad debt expenses linked to Covid-19.
FirstRand and Absa provided trading updates on Wednesday warning investors of falls in earnings attributable largely to the economic fallout associated with the hard lockdown that began in late March...
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