On the back of a strong economic recovery from the COVID-19 pandemic, Absa Bank Kenya reported a record profit after tax in 2021. According to the bank's financial statements, the pre-tax profit jumped 75.7% to 15.5 billion shillings.
The bank attributed the growth to increased lending to small and medium enterprises, which saw interest income rise by 8% to 32 billion shillings. Total income from all business units also increased by 7% to 37 billion shillings.
As a result, the bank's profit after tax reached 10.9 billion shillings, marking a significant milestone in the bank's financial performance.
