Barclays Africa Group said on Wednesday that headline earnings for the rest of Africa were up 22 percent to R1.2 billion in the six months to June, while in South Africa this measure grew by 8 percent to R5.5 billion.
The financial services group said revenue for the period had increased by 6 percent to R32.4 billion, as net interest income increased 7 percent and non-interest income rose 4 percent.
Headline earnings per ordinary share came in at 797.6 cents, up from 720.9 cents in the corresponding period a year ago, and a dividend of 450 cents was declared, representing a 13 percent increase on the 400 cents last time.
In a statement the bank pointed to the potential of further protracted electricity supply constraints being a key risk for South Africa.
Saying that it expected full-year global growth of 3.3% this year, the bank added that it expected full-year growth in South Africa of “just 2 percent”.
The statement added: “In Barclays Africa’s other markets, we expect growth to slip to 5.1% from 5.3% as many of the economies need to tighten fiscal and monetary policy and commodity prices impact underlying finances.”
ANA