Absa Bank profit after Tax jumps 328% to US$72m for period ending September 2021

KENYA – Absa Bank, a financial services group, has recorded a 328 percent jump in its Profit after Tax for the period ending 30 September 2021. The profit rose to KSh8.2 billion (US$72.98m), as compared to KSh.1.9 billion (US$16.91m) recorded in the same period 2020, which was attributed to the strengthening macro-economic environment and resilience in customer operations. The bank also recorded KSh.27.3 billion (US$242.98m) in total income, a 7 percent increase credited to higher increased income which increased by 9 percent year on year due to increased lending. Loans…

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