June 18, 2020 / 8:30 AM / 21 days ago

S.Africa's non-performing bank loans could hit 10% on COVID - association director

JOHANNESBURG, June 18 (Reuters) - Non-performing loans could hit 10% in South Africa this year, thanks to COVID-19 related economic troubles, the banking association’s managing director Bongiwe Kunene said on a conference call on Thursday.

She added that this may deplete banks’ capital buffers. She did not give an equivalent figure for bad loans for last year.

Reporting by Emma Rumney Writing by Tim Cocks

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