Absa expects bad debts to increase 'substantially', pushing credit losses beyond its target range | Business

  • 📰 News24
  • ⏱ Reading Time:
  • 13 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 80%

Business News News

Business Business Latest News,Business Business Headlines

More Absa customers are struggling because of higher interest rates, with the bank publishing a trading update on Friday showing that its credit impairments for the first half are expected to increase 'substantially'. | News24_Business

"South African consumers [are] under pressure due to significantly higher interest rates," wrote the bank in the trading update.

Nedbank said in late June its ratio was above its through-the-cycle target range of 0.6% to 1%, but it had started improving slightly in May.Nedbank cuts its forecast for SA growth, while it's still benefitting from higher interest rates

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines