Revenue growth flat, bad debts falling in line with forecasts.

JOHANNESBURG - South Africa's biggest retail lender Absa (JSE:ASA) Group Ltd expects first-half profit to fall by as much as 5 percent hit by lower demand for credit.

Absa, majority-owned by Britain's Barclays, said on Thursday headline earnings per share was likely to be 3-5 percent lower in the six months to end-June.

Headline EPS, which strips out certain one-off items, is the main profit gauge in South Africa.

Absa said revenue did not grow during the period as volumes across all businesses remained under pressure, while weaker equity markets hit investments portfolios.

But the banking group said bad debts in its retail business were falling in line with expectations. (Reporting by Tiisetso Motsoeneng; Editing by Marius Bosch)

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