ABSA | Absa Bank of Kenya 3Q21 Earnings Note

    Absa group 3Q21 EPS edged up 334.29% to KES 1.52, higher than our expectations. PAT edged up 328.27% y/y to KES 8.24Bn driven by a 7.49% y/y increase in Total operating income to KES 27.31Bn supported by interest income from loans. Customer deposits grew 9.03% (versus our forecast of a 6% growth) to KES 268.82Bn while the loan book grew marginally faster at 9.48% to KES 229.08Bn (better than our 4% forecast). Notably, the exceptional items reduced 100% as an indication of a 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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