Nairobi, March 18 -- Absa Bank Kenya Plc has raised its total dividend to Sh1.55 from Sh1.35 after posting a 12.2 percent growth in its net profit for the year ended December 2023 to Sh16.4 billion.

The total payout of Sh8.4 billion, after the payment of Sh1.15 final dividend and a 20-cent interim dividend per share paid last year, is the highest distribution for the lender on record.

The higher payout to shareholders is on the back of improved profitability, which was anchored on greater operating income, which rose 18.7 percent to Sh54.5 billion from Sh45.9 billion previously.

Net interest income jumped the highest by 23.8 percent to Sh40 billion from Sh32.3 billion supported by increased lending rates to customers.

Absa's loan book...