Banks’ profits will take at least three years to recover after Covid-19
But some investors are more upbeat, saying the banks’ capital levels are high and lending growth has been relatively conservative
11 September 2020 - 14:05
Coronavirus-related bad debts have set SA banks’ profits back by about a decade or more and they are unlikely to recover for at least three years, two top executives told Reuters, as the economy struggles with recession.
The country’s four biggest lenders have long battled to grow profits in a perennially weak home economy, but any gains were wiped out within a few months as the pandemic prompted huge charges for rising bad loans...
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