Barclays Africa full-year earnings rise 14 pct

Tue Feb 11, 2014 12:39am EST

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JOHANNESBURG Feb 11 (Reuters) - Barclays Africa Group posted an expected 14 percent rise in full-year earnings on Tuesday, boosted by higher loan interest income and a decline in bad credit.

The African subsidiary of Barclays Plc said diluted headline earnings per share totalled 1,396.6 cents in the year to end-December, from 1,227.6 cents a year earlier.

Headline EPS, which excludes certain items, is the main measure of profit in South Africa.

The earnings are the first since Barclays sold most of its African operations to South African lender Absa in exchange for a bigger stake in Africa's third-biggest banking group.

That acquisition boosted headline earnings by 14 percent to 1.923 billion rand ($172.5 million). ($1 = 11.1488 South African rand) (Reporting by Helen Nyambura-Mwaura)

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