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Surviving The Impact of Covid-19: After a tumultuous year, bank earnings seen recovering in 2021
12 Jan 2021 | Tuesday Source: The Edge Markets
It was a turbulent year for banks as Covid-19 wreaked havoc on the economy and, inevitably, took a toll on the lenders’ earnings.
In a first for the sector, banks extended a blanket loan repayment moratorium to individual and small and medium enterprise (SME) borrowers for six months, from April to September. The move was aimed at easing the cash flow of those affected by the virus outbreak.
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