Absa expects profit will more than double as impairments ease
Customer deposit growth remains robust and credit impairments have improved
03 December 2021 - 10:21
UPDATED 05 December 2021 - 16:45
Absa, SA’s fourth-biggest bank by market value, sees profit more than doubling in 2021, thanks to strong growth in customer deposits, improved credit impairments and a robust performance across most of its business units.
The bank advised shareholders in a trading statement on Friday that headline earnings per share (Heps) and earnings per share for the year ending December 31 2021 are expected to be more than double the respective 730.9c and 711.8c a share reported in the corresponding period the previous year. Heps is a frequently used measure of profitability in SA which excludes one-off items...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.