News Formal

Lockdown hits FirstRand and Absa earnings hard

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

Россия Новости Новости

Absa's interim earnings will almost be extinguished by rising bad debts while Firstrand's full year numbers could fall as much as 45%.

Two of the country’s largest banking groups says earnings will fall more than a third on a like-for-like basis for the year to end-June due to rising bad debt expenses linked to Covid-19.

FirstRand and Absa provided trading updates on Wednesday warning investors of falls in earnings attributable largely to the economic fallout associated with the hard lockdown that began in late March.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

 

Спасибо за ваш комментарий. Ваш комментарий будет опубликован после проверки
Мы обобщили эту новость, чтобы вы могли ее быстро прочитать.Если новость вам интересна, вы можете прочитать полный текст здесь Прочитайте больше:

 /  🏆 12. in RU

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

MTN investment Jumia takes lockdown revenue hitAfrican e-commerce heavyweight also pays $5m to settle class action lawsuits alleging IPO misstatements and omissions
Источник: BDliveSA - 🏆 12. / 63 Прочитайте больше »

The property market starts returning to pre-lockdown levels | CitypressOnline property listing portals saw a decline in activity at the start of the lockdown, but it has been increasing steadily, almost back to pre-lockdown levels.
Источник: City_Press - 🏆 7. / 72 Прочитайте больше »