JOHANNESBURG Feb 28 (Reuters) – South Africa’s
FirstRand is unlikely to see a further earnings boost from
improvements in bad debts, the chief financial officer of South
Africa’s second-largest bank said on Tuesday.
“We believe we’ve seen the end of bad debts being a
contributor to earnings growth,” said Johan Burger at a results
presentation.
A steady decline in bad debts has helped bolster results at
South Africa’s banks, which were hit by a spike in bad loans
following a 2009 recession.
(Reporting by Helen Nyambura-Mwaura; writing by David Dolan,
editing by Ed Stoddard)
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