Total credit impairment charges on loans and advances surged to R2.240bn in the first half
African Bank Holdings, the group that was resurrected from the ashes of its former parent African Bank Investments after its near collapse in 2014, posted an interim loss as retail customers came under pressure from the rising cost of living.
The group reported a total net loss after tax of R44m for the six-months to end-March 2023, which compared to an interim profit of R372m for the corresponding period the previous year, thanks largely to soaring impairments in its consumer banking division. ..
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