Standard Bank finds clients depend on COVID-19 support

File: Loans extended through Standard Bank'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.

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.

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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.
 

Source
eNCA