Standard Bank says customers falling behind on debt repayments

JOHANNESBURG - Another big bank has flagged an increase in the number of customers who are falling behind on their debt repayments.

Africa's biggest lender, Standard Bank, says a rapid rise in interest rates is seeing people struggling to make their repayments.

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It warned impairment charges surged almost 50-percent in the five months to end-May after being hit by consumer strain.

But Standard Bank still expects profits to grow more than 20-percent in its half-year to end-June.

The good showing come on the back of higher net interest income and non-interest revenue growth.