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...