South Africa's third biggest bank Barclays Africa Group Ltd reported a 7 percent rise in half-year profit on Friday, a slower growth rate as rising interest rates at home hit consumption and investment spending.
Barclays Africa Group Ltd :
* Unaudited condensed consolidated interim financial results for the reporting period ended 30 June 2016.
* Diluted headline earnings per share (HEPS) increased 7% to 856,7 cents for the period ended june 30.
* Declared a 2% higher interim dividend per share (DPS) of 460 cents.
* Credit impairments increased 46% to R5,2bn resulting in a 1,29% credit loss ratio from 0,97% for the reporting period ended 30 June 2016.
* Headline earnings in South Africa grew 3% to R5,9bn and rest of Africa rose 33% to R1,3bn for the reporting period ended 30 June 2016.
* Revenue grew 13% to R36,5bn, as net interest income increased 14% and non-interest income rose 10% for the reporting period ended 30 June 2016.
* Return on equity (roe) declined to 16,1% for reporting period ended 30 June 2016 from 16,4%.
* Core equity tier 1 (cet1) ratio of 12,1% remains above regulatory requirements and our board target range.
* Net interest margin (on average interest-bearing assets) improved to 4,97% for reporting period ended 30 june 2016 from 4,70%.
By: Reuters.
Photo: Business Bearing.
Review: Emerging Market Formulations & Research Unit, FLAGSHIP RECORDS.
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