JOHANNESBURG - Absa is cashing in on a stronger first half.
It reported higher earnings and a bigger dividend despite a challenging operating environment.
Headline earnings per share increased almost 8 percent, while basic earnings per share rose more than 12 percent.
Revenue growth and continued lending activity across its African operations supported the increase.
Income increased to more than R58 billion in the six months to June, helping drive stronger profitability.
The banker also raised its interim dividend to R8.50 per share, reflecting confidence in its performance.
Loan growth and higher customer deposits point to resilient demand for banking services.
Solid growth in vehicle finance, fees and insurance supported earnings in South Africa.
But the group says it remains focused on growth opportunities across Africa, where it serves over 13 million customers in 17 countries.