{"id":11851,"date":"2012-06-26T11:56:23","date_gmt":"2012-06-26T09:56:23","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/update-1-absa-h1-earnings-to-dip-as-much-as-10-pct\/"},"modified":"2012-06-26T11:56:23","modified_gmt":"2012-06-26T09:56:23","slug":"update-1-absa-h1-earnings-to-dip-as-much-as-10-pct","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-absa-h1-earnings-to-dip-as-much-as-10-pct\/","title":{"rendered":"UPDATE 1-Absa H1 earnings to dip as much as 10 pct"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Cites credit impairments, subdued revenue<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Barclays-owned bank to report results on July 27<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, June 26<\/span> (Reuters) &#8211; Absa Group, the<br \/>\nSouth African bank majority-owned by Barclays Plc, said<br \/>\non Tuesday it expects to report a drop of up to 10 percent in<br \/>\nfirst-half earnings, hit by an increase in bad loans and subdued<br \/>\nrevenue growth.<\/p>\n<p><span><\/span><\/p>\n<p>Absa said in a statement that its headline earnings for the<br \/>\nsix months to end-June would be as much as 10 percent below the<br \/>\n4.6 billion rand ($541.21 million) it reported in the same<br \/>\nperiod a year earlier.<\/p>\n<p><span><\/span><\/p>\n<p>The bank said that credit impairments, or bad loan costs,<br \/>\nrelated to mortgages had increased as property prices and<br \/>\ncustomers remained under pressure.<\/p>\n<p><span><\/span><\/p>\n<p>It also said it was struggling to improve revenue. &#8220;While<br \/>\nour new lending volume is improving, this is only expected to<br \/>\nbecome evident during the second half of 2012,&#8221; the bank said.<\/p>\n<p><span><\/span><\/p>\n<p>Absa is due to report its results on July 27.<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Cites credit impairments, subdued revenue * Barclays-owned bank to report results on July 27 JOHANNESBURG, June 26 (Reuters) &#8211; Absa Group, the South African bank majority-owned by Barclays Plc, said on Tuesday it expects to report a drop of up to 10 percent in first-half earnings, hit by an increase in bad loans and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-11851","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11851","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=11851"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11851\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11851"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}