• Wrap-up: Davos insights

    Alec Hogg speaks about the top three issues at this year's World Economic Forum.

  • Netflix and SA video

    Much of Netflix's potential impact on SA has already been made, says Arthur Goldstuck.

  • Fool's paradise

    Greece's new leader is in the same position as the ANC in 1994, says Leopold Scholtz.

Loading...
See More

Abil banks 18% profit, ups dividend

Nov 19 2012 08:48 Reuters

Related Articles

Moody’s downgrades SA

Banks to review clients' indebtedness

Consumers lie to get loans

Unsecured lending surges to R381bn

Consumers owe more than R1 trillion

South Africans borrow to buy food

 
Johannesburg - African Bank Investments [JSE:ABL] reported an 18% rise in annual profit on Monday that missed market expectations, a sign that demand for unsecured lending could be cooling.

The mass-market lender said diluted headline earnings per share totalled 342.5 cents in the year to end- September, compared with 291c a year earlier.

A poll of 12 analysts had expected earnings to increase 25% to 362c, 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 195c, higher than the 183c expected by in the poll of analysts.

Interest income rose 36% to R9.9bn and non-interest income rose 12% to R3.3bn.

Abil shares are down 13% this year, compared with over 14% growth by Johannesburg Top-40 index.

NEXT ON FIN24X

 

Latest Articles

8 simple ways to earn extra money Read More...
6 motivational tips to help you save this year Read More...
Invest for Income Read More...
15 Investment Tips for 2015 Read More...
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...