The Lower Eastern Times Opening The Third Eye
Absa Group has raised its interim dividend payout by 150 percent to Sh0.5 per share, even as the bank’s net profit fell by 10 percent.
According to the lender’s half-year results for the six months ending June, shareholders received just Sh0.2 per share during the same period last year. The bank’s Board of Directors approved the new interim dividend, set to be paid on or about Thursday, October 15, 2026, to shareholders on record as of Friday, September 18, 2026.
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The higher payout comes despite net profit dropping to Sh10.5 billion from Sh11.7 billion in the prior comparable period — a decline of about 10 percent.
The bank attributed its performance to disciplined investment and prudent risk management, noting that operating expenses were kept in check at Sh12.1 billion, up 6 percent year-on-year, reflecting ongoing investment in customer-focused transformation initiatives.
Impairment charges improved by 4 percent to Sh3.1 billion, which the bank credited to careful credit risk management and improving loan portfolio quality.
Meanwhile, customer loans and advances grew by 8 percent to Sh329.9 billion, and total assets rose to Sh558.1 billion during the period. Customer deposits also increased by 5 percent to Sh380.7 billion.
