Earnings Report /
Kenya

Absa Kenya: 9M 21: Bank hits management ROE target of 20%; new level seems sustainable

  • Exclusion of separation costs and lower loan loss provision charges boost earnings

  • Revenue depressed by weaker margins and subdued non-interest revenue performance

  • Reiterate Hold. The new 20%+ ROE levels are sustainable given the leaner cost structure

Faith Mwangi
Faith Mwangi

Equity Research Analyst, Financials (East Africa)

Tellimer Research
23 November 2021
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