August 5, 2013 / 6:19 AM / 4 years ago

BRIEF-African Bank Investments sees lower H2 earnings

JOHANNESBURG, Aug 5 (Reuters) - African Bank Investments Ltd : * Quarterly operational update for the third quarter ended 30 June 2013 * Says 19% growth in advances to R60,3 billion * Environment remains challenging, both for credit and furniture retail * Increase in npls as percentage of advances to 30,2% from 29,2% * Reduced credit disbursements of R17,7 billion for 9 months period * In process of rolling out a significantly improved proposition for low risk

customers * Banking unit earnings for H2 2013 are expected to be lower than H1 2013 * Retail environment remains challenging and unpredictable * Slowdown in furniture sales evident in the first half of the year worsened in

the past 3 months

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