Ghana Banks Heading for Lowest Profit Since End of Cleanup
- Rising impairment losses to hit 2020 earnings, Callstreet says
- Full fallout from coronavirus pandemic still has to play out
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Ghana bank earnings are poised to tumble to the lowest level in more than two years as measures to contain the coronavirus pummel demand for loans and spur a jump in bad debts.
“The full extent of Covid-19 related risks haven’t yet materialized,” George Bodo, chief executive officer of Nairobi-based Callstreet Research and Analytics, said in an email. “Impairment losses will take a bite out of income statements in 2020.”