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Why buy banks? With SA in the grip of its most aggressive rate hiking cycle in more than a decade, an economy barely scratching any growth and the prospect of bad loans galore, you’d think SA’s lenders would be the last place to park money.

Yet as the four majors — Absa, FirstRand, Nedbank and Standard — finalise their financial statements for the reporting season to end-June, SBG Securities has a buy call out on all of them. The brokerage reckons there’s a lot going for the lenders...

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