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South Africa s big four banks could yet receive an earnings boost this year as they reverse some of the 75.4 billion rand roughly $5.27 billion in impairments they took in 2020. Yet their return on equity will likely remain lackluster due to the country s prolonged economic malaise. Nonperforming loans at the major banks Standard Bank Group Ltd., FirstRand Ltd., Absa Group Ltd. and Nedbank Group Ltd. have steadily increased over the past half-decade, during which unemployment hit a record high and electricity blackouts became commonplace. Standard Bank s NPL ratio was 6.21% in 2020, up from 4.22% a year earlier and nearly double that of 2016, according to data from S&P Global Market Intelligence. FirstRand s NPL ratio rose 109 basis points in 2020 to 5.04%, while Nedbank s surged 189 basis points over the same period.

North westSouth africaCape townWestern capeCity ofUnited kingdomSouth africanIlan stermerDavid talpertMeyrick barkerFirstrand ltdNedbank group ltdAbsa group ltdStandard bank group ltdBarclays plcStandard bank