NAIROBI, Kenya, Sep 4 – Absa Bank Kenya CEO and MD Abdi Mohamed has been recognised for building the brand by the African Brand Leadership Award 2024.
In the Business Leader category, Mohamed stood out for his role in building and growing an African brand.
In the six months to June 30, 2024, Absa Bank reported a 29 percent increase in profit after tax, reaching Sh10.7 billion in the first half of 2024, compared to the same period last year.
It attributed the growth to revenue generation across all its business segments and a growing demand for soft loans among customers, despite challenging economic conditions marked by reduced consumer spending.
The lender’s customer deposits also saw a 6 percent increase, closing at Sh353 billion, driven by an increase in funded income, which reached Sh23 billion by the end of the reporting period.
The study was sponsored by Capital Club and Brand Africa in partnership with Gina Din Group.
