Bank on it: diversification is key to growth

Investing on the continent has shielded banks pummelled by local debt

20 August 2023 – 07:27

As a spike in credit impairments by battered South African consumers hurts banks, their corporate & investment units and Africa operations are having to save the day. 

With Absa and Standard Bank reporting a surge in bad debt locally, exceptional performances on the continent lifted both institutions’ group earnings. ..

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