DBSA takes big profit hit as it braces for additional credit losses
As a result of the pandemic the development bank has increased its provision for expected credit losses by 65% to R10.2bn
02 October 2020 - 11:16
The Development Bank of Southern Africa (DBSA) says profits fell more than three quarters in its year to end-March, as a deteriorating economic outlook weighs on the ability of its clients to repay loans.
Net profit fell 84% to about R504m in the DBSA’s year to end-March, when development loan disbursements rose 75% to R15.7bn...
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