Absa Bank posts 15% profit rise on lower loan provisions
Business
Absa Bank posts 15% profit rise on lower loan provisions
Operating expenses dropped 13 percent as the bank’s lower loan provisions cushioned the impact of falling interest earnings. The decrease in provisions came even as the total stock of non-performing loans rose 3.8 percent to Sh44.3 billion, amid a tough economic environment where borrowers, both individuals and companies, face repayment challenges.
Maureen Kinyanjui