Abdi Mohamed


Rising revenue pushes Absa’s profit up 32 percent to Sh8.3 billion

Absa Bank Kenya has announced a 32 percent surge in net earnings, reaching Kes8.3 billion for the first half of 2023, compared to the same period last year. This growth was propelled by sustained double-digit revenue expansion across key sectors, firmly positioning the bank as a robust player in Kenya’s financial landscape. The half-year results, unveiled during an investor and media briefing, underscore the Nairobi Securities Exchange-Listed bank’s commitment to supporting economic growth and recovery within Kenya, particularly focusing on Small and Medium Enterprises (SMEs). As part of their new strategy, the bank experienced a 22 percent surge in loans and advances to Kes317.9 billion…

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