For the year ended 31 December, Absa reported headline earnings per share, a profit measure, of 2,486 South African cents, up from 2,147 cents posted a year earlier.
Current power-supply crisis, inefficient rail and port infrastructure, and high unemployment have stoked concerns about future growth for South African banks after a good run last year.
Electricity supply is expected to remain a significant economic risk for the foreseeable future, Absa group said in a statement.
The lender posted a return on equity (RoE) - a metric of profitability used to compare banks - of 16.6%, up from 15.8% a year ago. It estimated a marginal increase in its 2023 RoE to around 17%.
The bank declared a dividend of 1,300 cents per share.
Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.
Go to: https://www.reuters.com/
