S&P sees South Africa’s banks up against growing credit risks

The logos of South Africa’s three biggest banks, ABSA, Standard Bank and First National Bank (L-R), adorn buildings as winter storms hit Cape Town, in this picture taken July 8, 2015. REUTERS/Mike HutchingsMoreJOHANNESBURG (Reuters) – South Africa’s banks will find it tougher to turn a profit as the economy remains feeble for the next few years and credit risks rise, credit ratings agency Standard & Poor’s said on Thursday.
Consumers, squeezed by rising interest rates