Absa

Absa HEPS fell 5% to 1228c (slightly better than the BB est.) | HY dividend flat at 685c | Revenue +3% | NII +7% | ROE -170bps to 14% (NED was 15% & SBK 18.5%) | Credit Loss ratio improved 1.23% (HY23: 1.27%) | Cost-to-Income ratio worsened to 52.7% (HY23: 50.6%) on ↑ staff costs | NAV +6% to 18014c | Charles Russon is interim CEO, replacing Arrie Rautenbach who called it a day.
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