Nairobi — Absa Group has increased its interim dividend payout by 150 percent to Sh0.5 per share despite a 10 percent decline in net profit.

The lender's half-year results for the six months ended June show that shareholders received Sh0.2 per share during a similar period last year.

"For the period, the Board of Directors has approved an interim dividend of KSh0.5 per ordinary share, to be paid on or about Thursday 15 October 2026 to shareholders on record as of Friday 18 September 2026," the bank announced.

The higher dividend comes despite net profit declining by 10 percent to Sh10.5 billion from Sh11.7 billion in the review period.

"Our performance in the first half of the year also reflects disciplined investment and prudent risk management. Operating expenses were well contained at KES12.1 billion, up 6% year on year, reflecting continued investment in customer-focused transformation," the bank said.

Impairment charges improved by 4 percent to Sh3.1 billion, which the bank said reflected prudent credit risk management and improving portfolio quality.

Customer loans and advances grew by 8 percent to Sh329.9 billion, while total assets increased to Sh558.1 billion during the period.

Customer deposits also grew by 5 percent to Sh380.7 billion.