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Unaudited consolidated interim results and ordinary share dividend declaration
Absa Group Limited
Registration number: 1986/003934/06
Incorporated in the Republic of South Africa
JSE share code: ABG, ISIN: ZAE000255915
Bond Issuer Code: ABGI, ("Absa Group", "Group" or "Company")
Unaudited consolidated interim results and ordinary share dividend declaration
for the reporting period ended 30 June 2024
Empowering Africa's tomorrow, together …one story at a time
We are a Pan-African financial services provider, inspired by our shared purpose. It is this purpose that guides us every day, helps
us create value, manage and grow our business, partner with our clients, and make an impact on the communities and
environments in which we operate.
We have a robust presence across 16 countries, with a primary listing on the Johannesburg Stock Exchange, and a secondary
listing on A2X. Our Pan-African footprint extends to banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles,
South Africa, Tanzania, Uganda and Zambia. We have representative offices in Namibia and Nigeria, securities entities in the
United Kingdom and the United States of America, a non-banking advisory subsidiary in China and a technology support service
office in the Czech Republic.
1. Banks are wholly owned, apart from the following where we hold majority stakes: Botswana 67.8%, Kenya 68.5%,
Mozambique 98.7%, National Bank of Commerce Tanzania 55% and Seychelles 99.8%.
16 countries
1 013 outlets*
6 330 ATMs
37 082 employees
4.3 million digitally active customers
12.5 million active customers
R141.7bn market cap
*Includes branches and sales centres.
Normalised financial results as a consequence of Barclays PLC Separation
Starting from 2024, the Group will disclose financial results solely based on IFRS Accounting Standards and will no longer report
normalised results due to the separation from Barclays PLC.
Performance overview for the period ended 30 June 2024
Total income
2024 Change % 2023
R53 708m Increased 3% R51 919m
Headline earnings per ordinary share
2024 Change % 2023
1 228.4 cents Decreased 5% 1 293.1 cents
Basic earnings per ordinary share
2024 Change % 2023
1 188.0 cents Decreased 9% 1 302.4 cents
Net asset value per ordinary share
2024 Change % 2023
18 014 cents Increased 6% 17 027 cents
Return on equity
2024 Change 2023
14.0% Decreased 15.7%
Cost-to-income ratio
2024 Change 2023
52.7% Increased 50.6%
Net interest margin
2024 Change 2023
4.69% Increased 4.62%
Dividend per ordinary share
2024 Change % 2023
685 cents Unchanged 685 cents
Loans and deposits growth
Gross loans and advances Deposits
(Increased 5%) (Increased 5%)
R1 359.0bn R1 395.3bn
(2023: R1 299.6bn) (2023: R1 323.7bn)
Risk profile
Stage 3 loans ratio to gross loans and advances
6.14% (2023: 5.82%)
Liquidity coverage ratio
126.2% (2023: 140.8%)
Sound capital
Common Equity Tier 1 ratio
12.7% (2023: 13.0%)
Short-form statement
This short-form announcement is the responsibility of the directors of Absa Group Limited. It is a summary of the information
contained in the full announcement. Shareholders should base any investment decisions on the full announcement which is
available on https://www.absa.africa/absaafrica/investor-relations/financial-results/ and on the JSE cloud link:
https://senspdf.jse.co.za/documents/2024/jse/isse/ABGE/HY24Result.pdf
The full interim announcement is available on the Company's website. Copies of the full announcement can also be requested at
the Company's registered office, free of charge, during office hours on normal business days, or alternatively by sending an email
to groupsec@absa.africa.
Registered office
7th Floor, Absa Towers West, 15 Troye Street, Johannesburg, 2001
Board of Directors
Independent non-executive directors
S Moloko (Group Chairman)
T Abdool-Samad, A Beck(1),
J Cummins(1), L Diogo(2), R Keanly,
P Mageza, A Mangale,
N Mjoli-Mncube (Lead Independent Director),
I Rensburg, F Tonelli, R van Wyk
Executive directors
A Rautenbach (Group Chief Executive Officer)
D Raju (Group Financial Director)
(1) British (2) Mozambican
Declaration of an interim ordinary dividend number 74
Shareholders are advised that an interim ordinary dividend of 685 cents per ordinary share was declared on 19 August 2024, for
the period ended 30 June 2024. The ordinary dividend is payable to shareholders recorded in the register of members of the
Company at the close of business on Friday, 13 September 2024. The directors of Absa Group Limited confirm that the Group
will satisfy the solvency and liquidity test immediately after completion of the dividend
distribution and for the next 12 months.
The dividend will be subject to local dividends withholding tax at a rate of 20%. In accordance with paragraphs 11.17 (a) (i) to
(ix) and 11.17 (c) of the JSE Listings Requirements, the following additional information is disclosed:
- The dividend has been declared out of income reserves.
- The local dividend tax rate is twenty per cent (20%).
- The gross local dividend amount is 685 cents per ordinary share for shareholders exempt from the dividend tax.
- The net local dividend amount is 548.0 cents per ordinary share for shareholders liable to pay the dividend tax.
- Absa Group Limited currently has 894 376 907 ordinary shares in issue (includes 65 602 863 treasury shares).
- Absa Group's income tax reference number is 9150116714.
In compliance with the requirements of Strate, the electronic settlement and custody system used by the JSE Limited, the
following salient dates for the payment of the dividend are applicable:
Last day to trade cum dividend Tuesday, 10 September 2024
Shares commence trading ex-dividend Wednesday, 11 September 2024
Record date Friday, 13 September 2024
Payment date Monday, 16 September 2024
Share certificates may not be dematerialised or rematerialised between Wednesday, 11 September 2024 and Friday, 13 September
2024, both dates inclusive. On Monday, 16 September 2024, the dividend will be electronically transferred to the bank accounts of
certificated shareholders. The accounts of those shareholders who have dematerialised their shares (which are held at their
participant or broker) will also be credited on Monday, 16 September 2024.
On behalf of the Board
N R Drutman
Group Company Secretary
Johannesburg
19 August 2024
Absa Group is a company domiciled in South Africa. Its registered office is 7th Floor, Absa Towers West, 15 Troye Street,
Johannesburg, 2001.
Sponsors
Lead independent sponsor
J. P. Morgan Equities South Africa Proprietary Limited
Joint sponsor
Absa Bank Limited (Corporate and Investment Bank)
www.absa.africa/absaafrica/investor-relations/financial-results/
Date: 19-08-2024 07:20:00
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