Absa Bank’s net profit surged to Ksh.10.7 billion in nine months to September 2022.
This is a 30 percent growth compared to Ksh.8.2 billion recorded same period last year.
The growth is attributable to a double-digit revenue growth due to fueled lending, especially to the Small and
Absa Bank Kenya posted a 22 percent jump in its 2022 quarter one net profit to Ksh.3 billion from Ksh.2.4 billion posted same period last year.
Absa Bank Kenya Managing Director, Jeremy Awori attributed this to the bank’s strong performance reflecting customers' resilience amidst global uncertainties.
Absa Bank closed Thursday, March 24, 2022, when it moved 2, 465, 800 shares to emerge as the top mover on the Nairobi Securities Exchange (NSE).
The performance is likened to the lender's announcement of a Ksh.3 billion credit facility for Kenya Wines Agency Limited (KWAL)
Kenya Wines Agency Limited (KWAL) has received a Ksh.3 billion loan from Absa bank Kenya to help fund the construction of its distillery plant at Tatu city.
The bank says it received authorization to lend the money via a competitive market offer and that it has
Absa Bank Kenya's after-tax profit surged by 161 percent to Ksh.10.9 billion in its 2021 full-year results.
The strong performance is attributable to growth in interest income when it stepped up efforts to support businesses recover from the COVID-19 shocks.
Absa Kenya Managing Director, Jeremy Awori, said
Cheque volumes and values have continued to fail as individuals and businesses make greater use of electronic payment instruments, particularly during the COVID-19 pandemic.
Prior to the pandemic, several countries had initiated discussions on the future of cheques.
In countries like Sweden and Norway cheques have either
The Kenya Private Sector Alliance (KEPSA) has partnered with
Absa Bank Kenya to empower one million young Kenyans with digital online job
opportunities through their respective youth programs, Ajira Digital and
The bank will provide work-readiness skills training through
its existing Ready-to-Work program, while leveraging KEPSA’s network to build
Absa Bank Kenya Plc has reported 846 percent growth in its profit after tax to Ksh.5.6 billion for the year ended June 30.
The impressive performance was mainly driven by growth in
interest income particularly in the small and medium enterprises segment as the
Bank accelerated its efforts
Absa Bank Kenya has set aside Ksh10 billion Small and Medium
Enterprise fund for women in Kenya.
The fund was unveiled on Tuesday in a programme dubbed “SheTrade” and according to the lender, the move was to align well with their ambition to be the preferred financial