Banking group expects more pressure on consumers and slowing growth in loans and deposits in second half of 2020
The Absa Group headquarters in Johannesburg. Picture: GETTY IMAGES/WALDO SWIEGERS
Diluted normalised headline earnings per share fell 82% to 173.4c. Heps is a widely used profit measure in SA that excludes one-off items to give a better indication of underlying performance. The group normalises the figure to account for the effects of its separation from Barclays. “Downside risks remain significant and include an increase in virus intensity, the lagged impact of the second quarter’s historic economic contraction, SA’s accelerating fiscal challenges, as well as heightened global risks and uncertainty,” the group said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Absa profit slumps as credit impairments almost quadrupleBanking group expects more pressure on consumers in the second half of 2020 and slowing growth in loans and deposits
Read more »
Absa profit slumps as credit impairments almost quadrupleBanking group expects more pressure on consumers in the second half of 2020 and slowing growth in loans and deposits
Read more »
Bidcorp warns of profit slump and Covid-19 writedownsFood services group has battled with pandemic’s effects across all countries in which it operates
Read more »
Erasmus scores the winner for City as Pirates winless run stretches to five matchesOrlando Pirates winless streak stretched to five matches as they crashed to a 1-0 Absa Premiership defeat against a 10-man Cape Town City at Loftus on Sunday.
Read more »
Influential Chiefs star Manyama to miss crunch match against StellenboschLebogang Manyama will miss Absa Premiership leaders Kaizer Chiefs' match-up against Stellenbosch FC at Orlando Stadium‚ Amakhosi coach Ernst Middendorp has said.
Read more »