Absa delivers 28% growth as net profit hits Ksh.20.9 billion

The lender attributes this growth to a strong revenue performance, diligent execution of its five-year strategy, and sustained investments in key economic sectors. Here's our reporter Wambui Wangui with the details.

As part of its commitment to continue creating shareholder value, the bank declared a total dividend of Ksh.9.5 billion, translating to Ksh.1.75 per ordinary share, an increase of 13% from the previous year.

During the review period, Absa focused on supporting its customers to navigate economic shifts and capitalise on growth opportunities by improving access to financing and strengthening support for critical sectors.

The bank’s customer loans and advances closed at Ksh.309 billion.

The bank expanded financial access in notable sectors such as manufacturing, trade, commercial property, affordable housing, and renewable energy, amongst others, providing Kshs.180 billion in new gross lending.

By investing in these key areas, Absa not only continued strengthening individual businesses but also catalysing job creation, and infrastructure development, reinforcing its purpose of “Empowering Africa’s tomorrow, together, one story at a time.”

Additionally, customer deposits increased to Ksh.367 billion, reflecting customers' growing confidence in Absa as a leading financial partner. In the period, total revenue grew by 14% to Kshs. 62.3 billion, supported by a strong funded income of Ksh.46.2 billion and an 11% increase in non-funded income to Ksh.16.1 billion.

Absa Bank Kenya Managing Director & CEO, Abdi Mohamed, attributed the improved performance to the disciplined execution of strategic initiatives that support customer growth while reinforcing the Bank's reputation as a trusted brand committed to advancing a sustainable future.

“Our customers are at the heart of our success, and these results show their ability to adapt and grow. We are committed to making Absa a modern and innovative bank that supports individuals, and businesses of all sizes. Our goal is to provide solutions that expand access to finance, drive economic progress, and improve the customer experience,” said Mr Mohamed.

He further highlighted Absa’s ongoing investment in digital transformation to enhance customer experience and its commitment to employee growth through talent development, future skills investment, and well-being initiatives that have earned the Bank recognition as a top employer for several years.