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African Bank profits up
Business Day says that African Bank Investments (Abil) has reported a 24% increase in headline earnings to almost R2,34 billion for the year to September, up from R1,89 billion for the same period last year.
![African Bank profits up](https://biz-file.com/c/1111/88049.jpg)
This translates into headline earnings of 291 cents a share compared with 235,1-cents a share last year. The return on equity for the group was 18,4% and its profits were up from R78 million in 2010 to R494 million this year.
A final preference dividend per share of 310 cents was declared, bringing the full year preference dividend to 620 cents a share. However, the group warned that the subdued economic environment is likely to continue next year.
For more:
- Business Day: African Bank reports 24% earnings increase
- Africa Bank Investments Limited: African Bank Investor Relations.
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