COVID-19: Absa Group earnings decline by 82%
With the impending school reopening, Absa says that they are aware that parents will face challenges meeting school fees obligations.
Absa Group Ltd, parent group of Uganda’s 3rd largest bank by assets and customer deposits, has reported an 82% decline in normalized interim earnings after impairments increased four-fold to R14.7 billion (UGX3.2 trillion).
According to Absa Group, the Impairment charges rose as customers and clients struggled to repay dsebt and as the Group took decisive action to increase impairment provisi
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