ABSA | Absa Bank Kenya FY21 Earnings Note

    Absa Group's FY’21 EPS edged up 159.74% to KES 2.00, higher than our expectations. PAT was up 161.17% y/y to KES 10.87Bn driven by a 6.95% y/y increase in Total Operating Income to KES 36.92Bn supported by interest income from loans. Customer deposits growth (+5.95% y/y to KES 268.72Bn) was driven by cheaper mobilization while the loan book grew marginally faster (+12.15% y/y to KES 234.23Bn) owing to a reduced lending risk environment. Notably, the exceptional items reduced 100% as an indication of the completion of the transition from the Barclays brand.

     

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    AIB-AXYS Africa Ltd is the fusion of two established companies; AIB Capital Limited and Apex Africa Capital Limited, both with over 25 years of experience in the Securities market. With the solid reputation and experience of the professional teams, we leverage talent and networks to better service businesses and investors looking to capitalize on the African growth story, and its vibrant financial sector.
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