Roadside call centre in Lagos. Photo: Akintunde Akinleye/Reuters
South African banks are likely to be less profitable in 2017 amid a slow economy, increase in bad debts and rising capital costs.
However, insurers are likely to profit from new technology.
From News 24. Story by Godfrey Mutizwa
With about 1 percent South African growth forecast for next year, banks will struggle to find new customers while bad debts will rise as unemployment increases, analysts say.
Increased cost of funding and rising impairment charges will collectively cause a profit pinch, Adam Bates, EY Financial Services Africa leader, told City Press. It is unlikely that banks will move into a loss situation but overall profits are more likely to grow…