ABSA | Absa Bank of Kenya FY22 Earnings Note
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ABSA Group released their FY’22 earnings results posting a 34.28% & 34.20% climb in EPS & PAT respectively to KES 2.69/share and KES 14.59Bn respectively driven by a 27.91% increase in net interest income and a 17.24% growth in non-interest income. Trailing ROaE & ROaA improved to 24.30% & 3.22% respectively in FY’22. NIMs remained adequate at 7.69% while the profit margin edged up 228bps y/y to 31.72%. In line with our expectation, the board of directors recommended a final dividend of KES 1.15 (Our estimates were KES 1.20) taking the total dividend paid out in FY’22 to KES 1.35 representing a 22.73% increase from KES 1.10 paid out in FY’21. The book closure of the dividends is set for 28th April 2023 while payment is expected to be made on 25th May 2023.