Banc Abc Shows Resilience Under Covid Test

The managing director of the bank, Kgotso Bannalotlhe said the main detractors in their performance were the increase in expected credit losses from the supportive measures extended to struggling customers and enhancements made to its credit provisioning models.

The bank registered a P3.7 million increase in expected credit losses compared to a prior year release in credit provisions. However, the MD said Banc ABC showed some resilience during the period.