The logo of South Africa’s Absa bank is seen outside an Absa branch in Cape Town, South Africa, March 10, 2020.REUTERS/Mike Hutchings/File Photo
South Africa’s Absa (ABGJ.J) expects a 10-fold profit jump for the six months to June 30, it said on Thursday, citing cost controls and reduced bad debts.
The bank reported headline earnings per share, the country’s main profit measure, of 67.7 cents in the same period last year.
One of South Africa’s top four banks, Absa is bouncing back from hefty provisions taken last year due to the pandemic.
It said on Thursday that the credit charge at its…
