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Absa Group anticipates mid-teens earnings growth for the first half of 2025
The Star
|June 30, 2025
ABSA Group said on Friday it expected earnings to grow by the mid-teens in the six months to June 30, while its return on equity would likely improve to 14.6% from 14% in the first half a year ago.
Absa's share price climbed 2.87% to R175.85 in the afternoon, well ahead of the JSE Banks Index, which was up 1.19% at the same time, and over 10% higher than the bank's share price a year ago.
The lender's management said in a trading update that they anticipate mid-single-digit revenue growth in the first half, with higher growth in non-interest income compared to net interest income.
Geographically, its South Africa business was expected to drive group earnings growth, primarily due to lower credit impairments, as net interest income growth remains muted. Strong pre-provision profit growth in African regions was anticipated, partially offset by higher credit impairments.
This story is from the June 30, 2025 edition of The Star.
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