Absa Bank Kenya PLC has posted a resilient performance in the first quarter of 2025, registering a 4 percent increase in net earnings to KES6.2 billion—despite a tough macroeconomic environment. 

The solid results underscore the Bank’s operational strength and the continued trust of its customers in uncertain times.

During the quarter, total revenues stood at KES15.8 billion, down 4 percent year-on-year, weighed by a slight dip in funded income to KES11.3 billion and an 11 percent decline in non-funded income to KES4.5 billion—reflecting the impact of prevailing market pressures.

Yet, Absa remained focused on enabling progress, disbursing KES308 billion in loans and advances to support key economic sectors and individual customers. Customer deposits rose by 5 percent to KES371 billion, driving a 5 percent growth in total assets to KES520 billion.

Absa Bank Kenya CEO, Abdi Mohamed, noted that the performance reaffirms the lender's strategic vision and its commitment to delivering relevant, tailored financial and non-financial solutions for individuals, businesses, and communities alike.

“While the operating environment remained complex, we continued to implement our forward-looking five-year strategic plan, which is guided by our core purpose: "Empowering Africa's tomorrow, together…one story at a time. We are satisfied by the progress attained in the review period, even as we implement prudent measures to strengthen and sustain our balance sheet momentum in the near term,” said Mr. Mohamed.

During the quarter, the Bank deepened its role as a business enabler by facilitating its technology-focused business club members with international exposure to best practices through a trip to Estonia and Finland as well as to the United States. The members also gained first-hand access to international best practices in digital innovation and enterprise growth. In addition, the Bank enhanced its wealth management proposition as part of a broader strategy to strengthen its value offering to the consumer segment.

Furthermore, the Bank accelerated its thought leadership series for its corporate clients across the country focused on supporting them to navigate the dynamic operating landscape. Absa also sustained commitment to people and culture with its recognition as a Top Employer in Kenya and Africa for the fourth consecutive year by the Top Employers Institute.

The continued cost discipline, combined with strategic investments in customer-focused transformation, resulted in a 1 percent reduction in total costs to Kshs. 5.5 billion. Improved credit performance and effective risk controls led to a 39 percent decline in impairment charges, which stood at Kshs. 1.5 billion. As a result, the Bank maintained strong portfolio quality, supported by a solid coverage ratio to absorb potential future credit losses.

In the quarter under review, the Bank reinforced its long-standing support for sports by investing in key events such as the Magical Kenya Open and the Absa Sirikwa Classics, reaffirming its long-term commitment to the sector and its far-reaching economic benefits.

“Looking ahead, we remain strategically positioned for sustainable growth, anchored by a strong financial foundation and disciplined execution. Our focus is firmly on delivering high-impact, customer-led initiatives while navigating a dynamic external environment. We continue to advance our ambition to position Absa as a forward-looking, innovation-driven financial partner across consumer, SME, and corporate segments. At the same time, we are deepening our digital transformation agenda to enhance customer experience, while strengthening our employee value proposition as a key driver of long-term success,” added Mr. Mohamed.