Absa customer loans grow despite higher interest rates
Bank expects credit impairments to rise, but says its loan coverage remains strong
21 June 2022 - 12:20
UPDATED 21 June 2022 - 20:07
The rate of growth of Absa lending to customers has hit the high single digits, reflecting recovery in the economy since the government rolled back most Covid-19 restrictions.
The loan book growth — which is faster than the 2% growth rate the bank registered in the same period in 2021 — was driven by improved demand from both corporate and retail clients, Absa said in a trading statement that flagged a more than 20% increase in headline earnings per share for the six months to end-June 2022...
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.