Africa operations boost Barclays Africa first-half earnings

July 30, 2014

JOHANNESBURG (Reuters) – Barclays Africa Group’s 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 , 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)

  • Finance
  • Investment & Company Information
  • Barclays Africa Group

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