Connect with us

Business

Absa profits down by 50%

Published

on

Photo credit: Defi Media

Absa Bank (Mauritius) Limited has recorded pre-tax profits of Rs1.1Bn at the end of the financial year ending December 31, 2020, representing a drop of 50% compared to the previous year, Defi Media reported.

The results were attributed to the economic crisis related to the pandemic and its recent rebranding.

“Without these costs, the profits before taxes of Absa Mauritius would have been Rs1.3Bn,” Absa defended.

Operational income amounted to Rs4.6Bn, representing a drop of 8% compared to the previous year.

Bookmark(0)

No account yet? Register

Spread the News
The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.
Click to comment

Leave a Reply

Your email address will not be published.

Continue Reading

The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.

Can you support?

Dear Reader,

NewsMoris is a media service that is dependent on support from its readers in the form of subscriptions.

As a startup that was born in and faring through challenging times like these, we need your support now more than ever.

Subscribing for as little as USD10/month is the best way you can support our efforts.

Thank you.