Subscribe & Follow
#CannesLions
- The new standardCarl Willoughby
- All the South African winnersDanette Breitenbach
- Final Grande Prix and LionsDanette Breitenbach
Trending
- #Cannes2024: All the South African winnersDanette Breitenbach
- Gauteng government buys newspaper space to praise MECDaniel Steyn, Joseph Bracken and Raymond Joseph
Absa reports 13% rise in full-year profit
![Source: Reuters.](https://biz-file.com/c/2303/691088-700x364.jpg?5)
For the year ended 31 December, Absa reported headline earnings per share, a profit measure, of 2,486 South African cents, up from 2,147 cents posted a year earlier.
Current power-supply crisis, inefficient rail and port infrastructure, and high unemployment have stoked concerns about future growth for South African banks after a good run last year.
Electricity supply is expected to remain a significant economic risk for the foreseeable future, Absa group said in a statement.
The lender posted a return on equity (RoE) - a metric of profitability used to compare banks - of 16.6%, up from 15.8% a year ago. It estimated a marginal increase in its 2023 RoE to around 17%.
The bank declared a dividend of 1,300 cents per share.
Source: Reuters
![](https://biz-file.com/b/2104/2217641.jpg?5)
Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.
Go to: https://www.reuters.com/![](/res/img/s.gif)