South African lender African Bank swung to a half-year loss on Wednesday after taking a 550 million-rand ($31.89 million) charge for bad debts. Controlled by the central bank after nearly collapsing under the weight of bad loans in 2014, the lender has struggled to turn itself around. It reported a net loss after tax of 311 million rand for the six months to March 31, compared to a profit of 69 million rand a year earlier after been hit by the impact of the coronavirus It said in its results statement the bank continues to maintain robust capital levels and surplus liquidity African Bank’s bid to restore itself to viability was gaining some traction before the coronavirus hit, dealing a hefty blow to South Africa’s already shrinking economy and its lenders. Learn more about your ad choices. Visit megaphone.fm/adchoices