Absa profit jumps 36%
Monday, September 19, 2022 | 500 Views |
Keabetswe Pheko Moshagane PIC: PHATSIMO KAPENG
The main drivers behind the improved profitability were an eight percent increase in net interest income, together with a 72% reduction in credit losses, a 42% increase in trading income, and a seven percent increase in net fees and commission income.
Commenting on the profit, Managing Director Keabetswe Pheko-Moshagane said the bank maintained a strong liquidity position during the first half of the year despite prevailing market challenges.
When claims of such gravity are made, especially by a sitting Assistant Minister they cannot be brushed aside, delayed, or treated as routine political noise. Even the Ombudsman has confirmed receipt of a report from a political party and a review of these complaints is now underway. That is a necessary first step. But it is only the beginning. The seriousness of the allegations demands urgency, transparency and clarity. The public is entitled to...