THE BIG READ

Big four banks’ earnings plunge 48%

But different business mixes reflect on income statements

21 March 2021 - 00:07 By HILARY JOFFE

The story across SA’s big four banks for the latest end-December reporting season was unusually consistent.

The banks’ earnings were down by a steep 48% in aggregate, PwC calculates. But that was a lot better than the results they showed in June, when the economy was decimated by the hard lockdown and the banks had to set aside sharply increased provisions in anticipation of bad debts to come...

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