ABSA Bank reported a robust 19.8% y/y growth in net earnings to KES 14.75Bn over the first three quarters of 2024.
Net interest margins widened 150bps to 9.9%, supported by higher reinvestment returns on interest-earning assets.
Recommendation - We maintain our BUY recommendation on ABSA Bank Kenya on account of robust return on equity momentum and optimistic revenue growth outlook.
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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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