NEW: Absa Bank records strong Q2 performance, revenue hits Sh29.3bn

Absa Bank has reported a strong performance in the second quarter, with total revenue rising to Sh29.3 billion, comprising Sh21.1 billion in net interest income and Sh8.2 billion in non-interest income.

Income generated from the bank’s subsidiaries, including asset management, custody services and bancassurance, increased by 20 per cent year-on-year, providing further support to overall performance.

Following the results, the bank’s board of directors approved an interim dividend of Sh0.5 per share, reflecting the lender’s continued focus on delivering value to shareholders.

Interim Managing Director and Chief Executive Officer, Yusuf Omari, attributed the performance to disciplined execution and continued investment in the bank’s long-term growth strategy despite challenging operating conditions.

“While the dynamic operating environment exerted pressure on performance, the Bank recorded strong momentum in the second quarter,” Omari said.

He noted that the performance also reflected Absa’s continued support for customers through financial and non-financial solutions, alongside investments aimed at strengthening business resilience and sustainability.

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During the period, Absa expanded its financial inclusion initiatives, focusing on helping customers access financing for homeownership, vehicle and business asset purchases, as well as entrepreneurship.

“Our strategy remains anchored on delivering sustainable, long-term growth while enhancing customer experience across all touchpoints,” Omari said.

The bank said it would sustain its focus on long-term growth, customer experience and expanding access to financial solutions.