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Absa suggests profit growth of at least a quarter amid pick-up in loans

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HEPS could rise as much as 32% in the bank's half-year, having said previously that lending to customers had picked up

Absa, SA’s fourth biggest bank by market value, has flagged profit growth of at least a quarter for its half-year to end-June, having indicated that easing Covid-19 restrictions proved supportive for loan growth.

Headline earnings per share were expected to rise between 27% and 32% from 986.2c previously, the lender said in a trading update on Wednesday, with this measure of profit set to be at least 28% above pre-pandemic levels...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

 

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