Absa Group reported interim headline earnings of R10.2 billion for the first half of 2024, reflecting a 5% decline from the previous year due to increased operating costs and credit impairments. Revenue rose by 3% to R53.7 billion, but the cost-to-income ratio increased to 52.7% from 50.6%, indicating pressure on profit margins. While the South African retail portfolio showed resilience with strong earnings growth across several sectors, the Absa Regional Operations cluster experienced a 12% decline in earnings, primarily due to adverse exchange rates. The return on equity fell to 14.0%, down from 15.7% a year earlier, as the group anticipates mid-single-digit revenue growth going forward. Absa aims for a normalized credit-loss ratio and remains committed to achieving a return on equity above 17% in the medium term. The group declared a stable interim dividend of 685 cents per share amidst these challenges.