Standard Bank finds clients depend on COVID-19 support

FILE: A Standard Bank branch.

JOHANNESBURG - Clients are finding it difficult to do without the COVID-19 support by banks during the hard lockdown.

That's what Standard Bank suggests in its latest trading update.

READ: Payment holidays to cost South Africans R20.7bn as experts warn of broken economy

It shows loans extended through the group's corporate and investment banking division that needed to be restructured increased from R48-billion at the end of June to R70-billion at the end of September.

The loan book suggest consumers are still in financial trouble even after payment breaks as companies continue to shed jobs in a shrinking economy.


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