In an update, Standard Bank said that its “client relief portfolio” – where payment holidays have been granted on home loans, loans and credit cards – has declined from R107 billion as at 30 June 2020 to R61 billion. On the lapsed accounts (i.e. where the payment holiday period granted had expired and the relief had not been extended) the average monthly instalment payment rate was more 95% for the secured portfolios (including mortgages), more than 90% for the unsecured portfolios (card and personal unsecured) and 100% for business lending. Of the extended portfolio (i.e. where the payment holiday period granted had expired and the relief period had been extended), 83% thereof was secured.
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