Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

Blue about to blow ??

Reply
SimonPB
Valued Contributor
Credit U was less then R300m .. so can't be that much good will in that deal ..
0 Kudos
striker
Super Contributor
Provision for bad debt impairments I'd say.Their book must be rotten.
0 Kudos
Not applicable
My question too, they lent out R1,1bn in unsecured loans (plus a bit of loan book growth), so presumably they have a huge default rate, but even that doesn't account for the loss, since the loan itself, must have been supplied by a finance house like ABSA or IFC. Goodwill rightoff can account for some (assuming 100% writeoff), but not all
0 Kudos
SimonPB
Valued Contributor
and yesterday was the last day for results .. an nothing ..
0 Kudos
striker
Super Contributor
They also had currency losses and branch closure write off's.
0 Kudos
striker
Super Contributor
About to become a penny stock.
0 Kudos