Earnings Report /
Kenya

Absa Kenya: End of rebranding costs and lower loan loss provision charge bolster H1 profit

  • The key driver of earnings was the completion of rebranding, the expenses for which accounted for 51% of PBT in H1 20

  • The bank's asset quality remains stable as loan loss provision charge declines

  • Retain our Hold recommendation; we remain concerned about management's agility in adapting to market changes

Faith Mwangi
Faith Mwangi

Equity Research Analyst, Financials (East Africa)

Tellimer Research
27 August 2021
Published by