Absa profit jumps 36%

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.