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JOHANNESBURG -South African lender Absa Group posted a marginal rise in annual profit on Monday, as a boost from pre-provision growth was offset by higher credit impairments....
South African lender Absa Group on Monday posted a marginal rise in interim profit as it benefited from higher interest rates whose impact was partly offset by higher impairments, the bank said. ... -Today at 01:11 am- MarketScreener
Absa defers dividend after 51% earnings drop Subscribe Absa Group on Monday (15 March) reported a 51% decline in normalised headline earnings for the year ended December 2020, to R8 billion, after impairments nearly trebled to R20.6 billion amid the economic downturn that was precipitated by the Covid-19 pandemic. Revenue increased 2% to R81.4 billion, Absa said; however, impairments increased 163% to R20.6 billion. Diluted headline earnings per ordinary share declined 58% to 730.9 cents per share, while the group decided against a dividend declaration to preserve capital in the current envir...