South African banks navigated rising interest rates calmly without concerning spikes in bad debt in 2022. But some are starting to flag consumer strain, and the interest rate increases aren't over yet.South African banks held up well in 2022 in the face of rising interest rates.
In the 12 months to November 2022, interest rates rose by 350 basis points, threatening many consumers' ability to pay off their debt after some went on an asset-buying spree when rates were at 40-year lows.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
_Business Rates are currently around pre-covid levels.
_Business Obviously they will thrive