Absa Kenya H1 Financial Announcement
Absa Bank Kenya has reported profit after tax of Kshs10.7 billion for the half year ended 30 June 2024. This is a 29% increase over the same period last year.
For the six months period, loans and advances closed at Kshs.316.3 billion, with the Bank booking Kshs. 64 billion in new gross lending to critical sectors of the economy. In the period, total revenues rose 16% to stand at Kshs. 31.8 billion, underpinned by growth in funded income at Ksh. 23 billion. Additionally, non-funded income grew by 8.4%, reflecting both the strength of the legacy revenue streams and the robust double-digit growth from new income sources. Customer deposits increased by 6% to Kshs. 353.3 billion, reflecting the sustained confidence they have in Absa as their primary financial partner.
Learn more about these results here https://www.techarena.co.ke/absa-bank....
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