Nedbank published its financial results for the six months to end June on Wednesday, which showed a 202% jump in bad debt charges.The bank said it has made additional provisions for bad debt because it expects a 35% jump in unemployment for Q2 and a 40% contraction in Q2 GDP.But CEO Mike Brown said the…
Kuben Naidoo Freddy Mavunda/Business Day South African banks will probably have to raise further provisions for bad loans as measures to contain the coronavirus weigh on the struggling economy, hindering the ability of customers to repay loans."We have a pretty good handle on the banks’ estimates of non-performing loans and they have all raised provisions…
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