ABSA | Absa Bank of Kenya 3Q22 Earnings Note
ABSA Group released their Q3’22 earnings results posting a 29.61% & 30.07% climb in EPS & PAT respectively to KES 1.97/share and KES 10.71Bn respectively driven by a 25.30% increase in net interest income and a 16.44% growth in non-interest income. Trailing ROaE & ROaA improved to 11.56% & 1.49% respectively in 3Q22.NIMs remained adequate at 7.09% while the profit margin edged up 638bps q/q to 32.03% in 3Q22. Factoring in the growth from previous quarters, we foresee the lender closing the year with a PAT of between KES 11.00Bn – 14.00Bn.