ABSA Group, the South African lender majority owned by Barclays, said yesterday its full-year earnings likely rose by as much as 22 per cent.
Absa, which is due to report results on 10 February, said in a statement it expected to report an increase of between 18 and 22 per cent in diluted headline earnings per share for the year to end-December.
That compares to an average forecast of a 19 per cent increase in a poll of 13 analysts by Thomson Reuters.
Headline earnings per share, which excludes certain items, is the main measure of profit in South Africa.
The bank did not give a reason for the expected rise in profit. It reported a 19 per cent increase in first-half earnings in August, as a drop in bad debts helped lift its mainstay retail unit.
The bank has focused on reining in costs and boosting revenue from transactions as demand for credit remains slack in Africa’s largest economy.
