EDITORIAL: Banks tell of interest rates and Africa
Collectively, SA banks have thousands of new green megawatts on their books, meaning there’s at least some chance growth can be boosted
21 August 2023 - 05:00
Three of our big banks have reported interim results over the past couple of weeks. They’ve had very differing fortunes. And their results say as much about the fortunes of SA’s economy, and of its neighbours across the African continent, as they do about the positioning and managements of the banks themselves.
At headline level, Nedbank reported an earnings increase of 11% and Standard Bank upped earnings by a hefty 35%, but Absa came in with an increase of just 2%. ..
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