Absa Kenya net profit up 9pc to Sh11.7bn
NAIROBI, Kenya, Aug 12 - Absa Bank Kenya has reported a net profit of Sh11.7 billion for the first half of the year, a 9 percent increase from Sh10.7 Kenya breaking news | Kenya news today |..
✨ Key Highlights
Absa Bank Kenya has announced a significant increase in its net profit, reaching KSh 11.7 billion for the first half of the year, a 9 percent rise from the previous year. This growth is attributed to strong operational resilience and strategic initiatives.
- The net profit of KSh 11.7 billion marks a 9 percent increase.
- The growth was driven by a 26.5 percent return on equity and stronger non-interest income streams.
- Managing Director and CEO Abdi Mohamed highlighted the relevance of their growth strategy.
- Customer deposits grew by 2.3 percent to KSh 361 billion, while total assets climbed 10.4 percent to KSh 532 billion.
- An interim dividend of KSh 0.20 per ordinary share for 2025 has been approved, payable around October 15.
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Kenyan Banks Report Profit Growth as CBK Cuts Lending Rate to 9.5% - August 2025
The Central Bank of Kenya (CBK) has reduced its base lending rate by 25 basis points to 9.5 percent, a decision effective August 12 aimed at stimulating economic activity. In related financial news, Equity Group announced a 17 percent rise in its half-year net profit to Sh34.6 billion for the period ending June 2025, driven by growth in its regional subsidiaries. Absa Bank Kenya also announced a significant 9 percent increase in its net profit, reaching KSh 11.7 billion for the first half of the year, citing strong operational resilience.
