Absa Group

Voluntary Trading Update: Retail credit growth slowed, and weaker exchange rates negatively impacted Group revenue, operating expenses, and headline earnings. ABG expects low single-digit revenue growth and high single-digit net interest income growth, but a decrease in non-interest income and high single-digit operating expense growth. A Credit loss ratio similar to H1 2023 is anticipated. Headline earnings will be down by mid- to high single digits, with an ROE of around 14%.
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