Absa Bank Net Profit up 4% to Ksh.6.2 Billion in Q1 2025

Absa Bank Kenya Net Profit up 4% to Ksh.6.2 Billion in Q1 2025 — Absa Bank Kenya CEO Abdi Mohamed

Absa Bank Kenya PLC has reported a 4% growth in net profit to Ksh.6.2 billion for the quarter ending March 31, 2025.

The bank’s total revenue declined by 4% year-on-year to Ksh.15.8 billion, mainly driven by a slight dip in funded income to Ksh.11.3 billion and an 11% drop in non-funded income to Ksh.4.5 billion—a reflection of prevailing market conditions.

During the review period, Absa continued to support economic activity through targeted lending, advancing Ksh.308 billion in loans and credit facilities to individuals and key economic sectors. Customer deposits rose 5% to Ksh.371 billion, while the bank’s total assets grew 5% to Ksh.520 billion.

“While the operating environment remained complex, we stayed focused on delivering our five-year strategy, which is anchored on our purpose: Empowering Africa’s tomorrow, together… one story at a time. We are pleased with the progress made and continue to implement prudent measures to maintain balance sheet momentum,” said Absa Bank Kenya Managing Director and CEO Abdi Mohamed.

Strategic Investments and Innovation Drive Growth

In the quarter, the bank enhanced its role as a business enabler by offering international exposure to members of its tech-focused Business Club, who visited Estonia, Finland, and the United States to gain insights into global best practices in innovation and enterprise growth.

Also Read: Absa Bank Kenya Partners with Women’s World Banking to Support Women Entrepreneurs

Absa also bolstered its wealth management offerings, aimed at providing greater value to the consumer segment, and scaled up its corporate thought leadership forums across the country to help clients navigate Kenya’s evolving business environment.

The bank was recognised as a Top Employer in Kenya and Africa for the fourth year running by the Top Employers Institute.

Absa’s focus on cost management and customer-centric transformation led to a 1% reduction in operating expenses, which stood at Ksh.5.5 billion.

Additionally, impairment charges dropped 39% to Ksh.1.5 billion, driven by improved credit performance and robust risk controls. This helped the bank maintain a strong loan portfolio, with sufficient coverage to absorb future credit shocks.

During the quarter, Absa reaffirmed its long-standing support for sports development by sponsoring premier events such as the Magical Kenya Open and the Absa Sirikwa Classics, reinforcing its commitment to sectors with far-reaching socio-economic impact.

“We remain focused on delivering high-impact, customer-led solutions while navigating a dynamic external environment. Our ambition is to position Absa as an innovation-driven financial partner across consumer, SME, and corporate segments.

We are also deepening our digital transformation to enhance customer experience and investing in our people as a core pillar of long-term success.”

May 27, 2025

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Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.