Absa beats profit forecasts

Absa Group reported profit that exceeded analysts' forecasts as South Africa, the lender's home market, recovers from years of economic decay.

- Bloomberg

Headline earnings increased 9.9% to R22.06 billion in the three months through December, surpassing the R21.6 billion forecast by seven analysts in a Bloomberg survey.

"Our organisation rallied in the second half, refining our focus areas to ensure that our actions are targeted and precise in generating value and earnings uplift," interim CEO Charles Russon said.