Tag Archives: ABSA records 3% year on year growth despite COVID-19

Despite significantly higher credit impairments and the material impact of the lockdowns on transactional volumes, Absa Group, including all business units, remained profitable. In addition, revenue increased by 3% while cost-to-income ratio reduced from 56.7% to 53.9%. The group also reported an 82% decline in normalised interim earnings after impairments increased four-fold to 5.01 billion cedis. Impairment charges rose as ...

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