Credit losses to stay high in next annual results, Absa warns
Banking group Absa has warned that its credit losses will remain high in its next annual results as customers continue to grapple with elevated interest rates.
“Given significantly higher policy rates, our credit loss ratio is expected to exceed our through-the-cycle target range of 75 to 100 basis points,” the company, valued at about R143bn on the JSE, said on Friday. Absa released a voluntary trading update for its upcoming results for the year to end-December, expected to be released on March 11...
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