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Nedbank takes a knock as impairments skyrocket

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Preparations for the economic fallout from Covid-19 have led to a 69% drop in Nedbank’s interim earnings. The group took an impairment charge on bad loans of nearly R8bn but the lender is hopeful that bad debts will ease in the next six months. Business Day TV spoke to Mike Brown, CEO of Nedbank for his perspective on the economy and its impact on the bank.
26 Aug 2020 2AM English South Africa Business · Business News

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