Capitec warns profits could fall 82% due to effect of Covid-19
The group has battled with higher bad debt provisions and pressure on transaction volumes amid the Covid-19 pandemic
07 September 2020 - 11:34
Banking group Capitec has warned of up to an 82% fall in first-half profits as it grapples with higher bad-debt expenses and lower transaction volumes.
The group had warned of a more than 70% fall in profits in July, saying at the time its credit impairments were 145% higher than expected, and had increased R3.3bn since the end of February...
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