Absa Group achieves strong financial growth

Edward West edward.west@inl.co.za

in 2024, looks forward to sustained growth Absa Group, the bank with a robust presence across 16 African countries, increased headline earnings per share (HEPS) by 10% in the year to end-December 2024, strong growth considering HEPS fell 5% at the interim stage and was up by only 3% in 2023. The group, with some 12.7 million active customers, lifted total income 5% to R109.95 billion. Net asset value per share increased 11% to 19 311 cents. The cost-to-income ratio was unchanged at 53.2%. The dividend per share was raised 7% to 1 460 cents. Interim CEO Charles Russon said the results were underpinned by a material improvement in the second half. Earnings were driven by both a more supportive environment, as well as steps taken to support performance. All…

You're reading a preview of

Star South Africa (Digital) - 1 Issue, 2025-03-12

DiscountMags is a licensed distributor (not a publisher) of the above content and Publication through Zinio LLC. Accordingly, we have no editorial control over the Publications. Any opinions, advice, statements, services, offers or other information or content expressed or made available by third parties, including those made in Publications offered on our website, are those of the respective author(s) or publisher(s) and not of DiscountMags. DiscountMags does not guarantee the accuracy, completeness, truthfulness, or usefulness of all or any portion of any publication or any services or offers made by third parties, nor will we be liable for any loss or damage caused by your reliance on information contained in any Publication, or your use of services offered, or your acceptance of any offers made through the Service or the Publications. For content removal requests, please contact Zinio.