South Africa: Absa Earnings Fall as Impairments Bite

Johannesburg — BSA Group said yesterday that headline earnings fell 25,5% to 1099,4c per share in the year to December 31 as high levels of impairment bit into profit.

Attributable profit fell 35,9% to R6,84bn. South African banks have faced rising bad debts as consumers struggled to repay loans during last year's recession.

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