JOHANNESBURG (Reuters) - Absa Group, the South African bank majority owned by British lender Barclays Plc, posted a worse-than- expected 9 percent drop in full-year earnings on Tuesday after bad debts spiked. Absa, the first of South Africa's top four banks to report earnings this season, said diluted headline earnings per share totalled 1,224.6 cents in the year to end-December, from 1,350 cents a year earlier. That was worse than the 6.3 percent decline to 1,265 cents forecast by StarMine's SmartEstimate, which gives more weight to forecasts from top-ranked analysts. ...
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