African Bank Investments reported an 18% rise in annual profit on Monday that missed market expectations, a sign that demand for unsecured lending could be cooling
The South African mass-market lender said diluted headline earnings per share totalled 342,5 cents in the year to end- September, compared with 291 cents a year earlier.
A poll of 12 analysts had expected earnings to increase 25% to 362 cents, according to Thomson Reuters data.
Headline EPS, which excludes some one-time and financial items, is the main measure of profit in South Africa.
The company said it increased dividends by 5% to 195 cents, higher than the 183 cents expected by in the poll of analysts.
Interest income rose 36% to 9,9 billion rand ($1,11 billion)and non-interest income rose 12% to 3,3 billion rand.
Abil shares are down 13% this year, compared with over 14% growth by Johannesburg Top-40 index.
South Africa’s Abil misses estimates with full-year profit
African Bank Investments reported an 18% rise in annual profit on Monday that missed market expectations, a sign that demand for unsecured lending could be cooling
The South African mass-market lender said diluted headline earnings per share totalled 342,5 cents in the year to end- September, compared with 291 cents a year earlier.
A poll of 12 analysts had expected earnings to increase 25% to 362 cents, according to Thomson Reuters data.
Headline EPS, which excludes some one-time and financial items, is the main measure of profit in South Africa.
The company said it increased dividends by 5% to 195 cents, higher than the 183 cents expected by in the poll of analysts.
Interest income rose 36% to 9,9 billion rand ($1,11 billion)and non-interest income rose 12% to 3,3 billion rand.
Abil shares are down 13% this year, compared with over 14% growth by Johannesburg Top-40 index.
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