Absa Bank Kenya has registered a profit after tax of Kshs 10.7 billion for the half year 2024. The earnings represent 29% growth from the profit reported in a similar period last year.
The bank’s revenue for the period under review was Kshs. 31.8 billion, a 16% year-on-year growth.
Total customer deposits stood at Kshs. 353 billion while loans and advances to customers amounted to Kshs. 316 billion.
The bank’s non-performing loan was Kshs. 39.4 billion up from Kshs. 32.2 billion.
During the announcement of the financial results, Abdi Mohamed Absa CEO, the said the “commendable outcome reflects prudence in strategy execution and the resilience of our customers.”
“It is a further demonstration of our unwavering dedication to providing relevant financial solutions that address the diverse needs of individuals, enterprises, and communities because we want to continue being critical enable to their growth stories,” he added.
The strong performance was followed by the approval of an interim dividend of Kshs 0.20 per share payable on 15 October 2024. The dividend payout aligns with the bank’s commitment to delivering value to its shareholders. Absa Bank Kenya is one of the subsidiaries of the South Africa-based Absa Group Limited.
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