Nedbank has warned that elevated inflation and higher interest rates are placing consumers under increasing financial pressure, resulting in a rise in credit defaults. That is quite a jump, that reflects higher levels of inflation in our economy which puts the consumer under pressure. All those events that put consumer clients under pressure were reflected in the numbers as a higher impairment charge,” he said. Read More: Fuel shock pushes inflation to 5%The deterioration in impairments came despite solid underlying growth across the group’s operations. Nedbank maintains ROENedbank maintained a return on equity (ROE) of 15%, slightly down from 15.2% in the corresponding period last year.