In our latest Monocle Insights Podcast, Johan du Pisanie, Senior Manager at Monocle, unpacks the impact of the Covid-19 pandemic on banks and their impairments under IFRS 9.
Like many countries around the world, the South African economy has been hit hard by the Covid-19 pandemic and nationwide lockdown. In the financial sector, we have seen the impact of this as forward-looking impairments spike and banks’ projected earnings are revised.
In our latest discussion, Johan takes us through the steps taken by banks and regulators to protect customers and the economy during the pandemic. We explore the impact of the pandemic on banks’ IFRS 9 impairments and the approach banks will take in the future to optimise their IFRS 9 operations.
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