Nairobi, Aug. 18 -- Absa Bank Kenya has more than doubled its interim dividend to Sh0.50 per share despite reporting a 9.8 percent decline in net profit for the half year ended June 2026.

The lender reported a net profit of Sh10.5 billion in the half year to June, down from Sh11.6 billion posted in a similar period last year. The lender's management attributed the profit drop to a lower interest rate regime, one-off costs and a slump in forex earnings.

Absa has paid an interim dividend of Sh0.20 per share over the last four years but increased the payout this year despite the drop in net profit, saying it has adequate capital to support loan book and deposit growth without breaching any regulatory capital requirements.

"We've done what...