Absa Bank Kenya PLC has announced a KES9.5 billion dividend payout for the year ended December 31, 2024, rewarding shareholders with KES1.75 per ordinary share—a 13 percent increase from the previous year. 

This move comes on the back of a strong financial performance that saw the lender’s net earnings grow by 28 percent to KES20.9 billion, reflecting its resilience and commitment to creating long-term value.

The dividend announcement underscores Absa’s strong performance during the year, which was powered by a 14 percent increase in total revenue to KES62.3 billion. 

Absa Bank Kenya CEO Abdi Mohamed attributed the improved performance to disciplined execution of strategic initiatives that support customer growth while reinforcing the bank's reputation as a trusted brand committed to advancing a sustainable future.

“Our customers are at the heart of our success, and these results show their ability to adapt and grow. We are committed to making Absa a modern and innovative bank that supports individuals, and businesses of all sizes. Our goal is to provide solutions that expand access to finance, drive economic progress, and improve the customer experience,” explained Mr. Mohamed.

Disclosures show that the Nairobi Securities Exchange-listed lender's funded income contributed KES46.2 billion to the revenues, while non-funded income grew by 11 percent to KES16.1 billion. 

At the same time, customer deposits surged to KES367 billion, highlighting growing trust in Absa as a reliable financial partner across industries.

Throughout the year, Absa said it focused on enabling its customers to navigate economic challenges and capitalize on opportunities. The Bank’s customer loans and advances reached KES309 billion, with KES180 billion in new gross lending directed toward key sectors such as manufacturing, trade, commercial property, affordable housing, and renewable energy. 

These strategic investments not only supported businesses but also spurred job creation and infrastructure development, aligning with Absa’s purpose of “Empowering Africa’s tomorrow, together… one story at a time.”

During the year, Absa said it grew its agency banking network to 3,000 locations, with plans to scale to 17,000 outlets by 2027. What's more, the bank strengthened its physical presence by opening new branches and relocating others to more strategic locations. Additionally, the bank continues to invest in its digital capabilities, with 93.6 percent of transactions taking place on digital channels.

Supporting SMEs and businesses saw increased access to financing, market opportunities, mentorship, and digital solutions as the lender empowered over 35,000 small enterprises and women-led businesses with financial and non-financial skills to drive growth.

In 2024, Absa cemented its commitment to sustainability, with over KES47 billion advanced in sustainable finance. The lender also launched the Absa Kenya Foundation, committing to accelerate its force for good agenda through four key pillars: entrepreneurship, education and skills, natural resource management, and health and humanitarian relief.

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