Absa Bank Plc, the kenyan unit of South Africa’s Absa Group, said its profit after tax for the half year 2024 jumped to KSh10.7 billion from KSh8.3 billion recorded in similar period last year.
- The bank’s Gross Non-Performing Loan has shot up to KSh39.4 billion from Sh32.2 billion as the bank’s loan provision stood at KSh5.17 billion from KSh5.16 billion driven by defaults in the personal and manufacturing and real estate.
- Loans and advances closed fell by 0.5% to Ksh.316.4 Billion from Ksh 317.9 Billion reported in the same period last year.
- Customer deposits increased 6 per cent to KSh353 billion in the period under review.
- Total assets declined by 4.4% to Ksh481.4 Billion from Ksh503.7 Billion as a result of an 17.8% decrease in holdings of Government securities.
The Board of Directors has resolved to approve payment of an interim dividend for the year 2024 of KSh0.20 per ordinary share of the Company to be paid on or about Tuesday, 15 October 2024 to shareholders registered as at close of business on Friday, 20 September 2024.
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