Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Barclays Africa first-half earnings up 10 percent

Published 30/07/2014, 06:38
Barclays Africa first-half earnings up 10 percent

JOHANNESBURG (Reuters) - Barclays Africa Group's (J:BGAJ) posted an expected 10 percent rise in first-half headline earnings on Wednesday boosted by its Africa operations.

The pan-African lender, majority owned by the eponymous British bank (L:BARC), said headline earnings per share came in at 720.9 cents in the six months to end June, compared with a restated 655.7 cents a year ago.

Barclays said net interest income - the measure of income from lending - grew 10 percent to 17.197 billion rand (956 million pounds) as the bank passed on higher interest rates.

Credit impairments fell 7 percent after a push to rein in bad loans, which spiked in 2013 for most South African banks following a spate of unbridled unsecured lending.

(Reporting by Helen Nyambura-Mwaura; Editing by Xola Potelwa)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.