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Absa Group 2021 Earnings Increase on Lower Impairments, Higher Pre-prevision Profit

by CEO Reporter
Jason Quinn (L), Absa Interim Group Chief Executive and Punki Modise, Absa Interim Group Financial Director, have overseen the team that has worked hard to register growth
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Absa Group headline earnings more than doubled to R18.6 billion in 2021 (R8 billion in 2020), well in excess of 2019 earnings, as pre-provision profit increased and as the impairments charge reduced substantially. The improvement in part reflects a stronger than expected economic recovery in South Africa, where Absa generates most of its income. South Africa’s gross domestic product improved

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