Barclays Africa first-half earnings up 10 percent
Reuters
Published Jul 30, 2014 06:38
Barclays Africa first-half earnings up 10 percent
JOHANNESBURG (Reuters) - Barclays Africa Group's (J:BGAJ) posted an expected 10 percent rise in first-half headline earnings on Wednesday boosted by its Africa operations.
The pan-African lender, majority owned by the eponymous British bank (L:BARC), said headline earnings per share came in at 720.9 cents in the six months to end June, compared with a restated 655.7 cents a year ago.
Barclays said net interest income - the measure of income from lending - grew 10 percent to 17.197 billion rand (956 million pounds) as the bank passed on higher interest rates.
Credit impairments fell 7 percent after a push to rein in bad loans, which spiked in 2013 for most South African banks following a spate of unbridled unsecured lending.
(Reporting by Helen Nyambura-Mwaura; Editing by Xola Potelwa)
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Written By: Reuters
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