Bank on it: diversification is key to growth
Investing on the continent has shielded banks pummelled by local debt
20 August 2023 - 07:27
As a spike in credit impairments by battered South African consumers hurts banks, their corporate & investment units and Africa operations are having to save the day.
With Absa and Standard Bank reporting a surge in bad debt locally, exceptional performances on the continent lifted both institutions' group earnings. ..
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