Standard Bank has forecast a rebound in half-year profits, indicating a potential trough of the pandemic-induced downturn in investment and consumer spending that saw lenders set aside billions of rand for bad loans.
The banking industry is one of the worst-hit sectors operationally and in the stock market after building up a stockpile of cash to cover potential losses from missed loan and credit payments and forcing shareholders to share the pain with the suspension of dividends...
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