Audio By Carbonatix
South African lender Absa Group Ltd reported a 5% rise in first-half profit on Tuesday, while its core retail business managed to grow despite a faltering domestic economy.
Absa, once a market leader, has been trying to win back ground lost under the stewardship of former parent Barclays following its split from the British lender in 2017. But it is trying to turn around amid intense competition and a weak South African economy.
The bank said its headline earnings per share (HEPS) — the main profit measure in South Africa — rose 5% to 918.4 cents ($0.6019) for first-half, against 877.8 cents in 2018. When normalised to account for the impact of the Barclays separation, HEPS was up 3%.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
South African airline behind daring stadium stunt cancels next flyby
5 minutes -
PURC urges ECG to address outages, metering delaysÂ
16 minutes -
Police engage traders over alleged harassment, extortion on Aflao-Accra highwayÂ
26 minutes -
Uber shuts operations in Nigeria and Uganda with immediate effect
37 minutes -
Netherlands moves billions in gold to London in ‘crisis preparedness’ move
47 minutes -
Legal vacation does not halt urgent court cases – Chief Justice
55 minutes -
Keta residents react with mixed feelings to fresh fuel price hikeÂ
1 hour -
Managing Director on GH¢150,000 bail over five dud cheques
1 hour -
BOSTenergies reports strong 2025 performance, pays first-ever dividend to government
2 hours -
Carlos Queiroz reappointed as Black Stars head coach
2 hours -
Gov’t targets TVET transformation with US$300m World Bank facility
2 hours -
Flying into Ghana with more than 2 phones may face commercial import charges – GRA
2 hours -
Education Ministry warns private schools against use of unapproved textbooks
2 hours -
Travelers with multiple new devices returning to Ghana to pay additional charges – Customs Commissioner
3 hours -
John Boadu: A lifetime of party service, experience and grassroots leadership
3 hours