BADGER
MICHAEL AVERY: All eyes on bank results as consumers and businesses take strain
The Nedbank results show capital is not a problem, but a lack of growth and confidence in the economy are a drag
14 August 2022 - 15:53
John Maynard Keynes believed the “sound” banker is not one who foresees danger and avoids it, but one who, when he is ruined, is ruined in a conventional and orthodox way with his fellows, so that no-one can really blame him.
With the bank earnings season upon us it is increasingly clear that the country’s big five banks largely trod down conventional pathways in lockstep during the past two years, tightening the lending taps in unison, raising ultra-cautious provisions and then collectively loosening the taps as rates plummeted and the pandemic receded...
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