Absa Results | Record profits, worry over blackouts

JOHANNESBURG - Absa is the latest bank to raise concern that power cuts have added financial pressures on business and consumer clients.

READ: Economist says Eskom should get money for diesel 

According to the bank's estimates, blackouts have shaved almost a percentage point from the country’s GDP.

Absa is the latest bank to raise concern that power cuts have added financial pressures on business and consumer clients. #DStv403 #eNCA pic.twitter.com/dm0YLbpiJ2

— eNCA (@eNCA) March 14, 2023

It says its clients were resilient last year.

Headline earnings were up 14%, with the bank distributing R9.3bn in dividends to shareholders.

ABSA CEO Arrie Rautenbach says the bank is considering all scenarios in the ongoing power crisis.