Absa Group has reported strong normalised headline earnings of R21 (South African Rand) billion for the 2022 financial year, an increase of 13% from the prior year and well above pre-Covid levels. The result was driven by significantly higher pre-provision profit which, in turn, was driven by very strong revenue growth of 15% to just
Absa Group today announced the appointment of Arrie Rautenbach as Chief Executive Officer (CEO), effective immediately. The appointment follows a thorough recruitment and selection process completed by the Board. Arrie, who is currently Chief Executive of the Group’s retail and business banking (RBB) unit, is the first internally appointed CEO since 2006. He has more
Absa Group headline earnings more than doubled to R18.6 billion in 2021 (R8 billion in 2020), well in excess of 2019 earnings, as pre-provision profit increased and as the impairments charge reduced substantially. The improvement in part reflects a stronger than expected economic recovery in South Africa, where Absa generates most of its income. South
Absa Group has announced the appointment of Saviour Chibiya as Group Executive: Absa Regional Operations (ARO). Saviour will be responsible, together with RBB and CIB, for the Group’s ARO businesses and the Group’s strategy, collaboration and relationships with its key stakeholders across those businesses. Saviour will be a member of the Group Executive Committee and
The Absa Group has announced the appointment of Frances Adu–Mante as Board Chair of Absa Bank Ghana after securing the necessary regulatory approvals. Mrs Adu-Mante, who has served on the Board since September 2017 succeeds Charles Alexander Cofie, who completed his tenure as Board Chairman on Thursday, 31 December 2020. “I am delighted to confirm
One of the largest diversified financial service providers in Africa, Absa Group has announced that its lending capacity will increase following a $497m guarantee singed between the South African-based banking group and Multilateral Investment Guarantee Agency. The guarantee, which was implemented by Absa Group recently, will help the bank expand financing across seven countries in
The Absa Group, formerly Barclays Africa Group has appointed Cheryl Buss as the new Chief Executive Officer of Absa International which includes managing Absa Securities United Kingdom. her appointment as CEO will see her lead the bank’s international operations in its efforts to enable a globally scalable business that drives connectivity with corporate and institutional
The Barclays Bank Ghana, part of the Absa Group, topped the 2019 Ghana Banking Sector League by emerging as the Overall Best Bank in the country. The Bank was also named the Best Intermediating Bank of the Year, cementing Barclays’ position as a top-tier bank in Ghana. The recognition confirms Barclays’ sterling performance and results
Absa Group Limited, the parent company of Barclays Bank Ghana, has been named Africa’s best investment bank at the continent’s most prestigious banking and finance award event -The African Banker Awards. This year’s event was held under the high patronage of the African Development Bank (AfDB). Absa received the coveted award, Investment Bank of the
The Absa group, one of Africa’s major financial service providers has announced that it has successfully moved its banking platform used by six of its African subsidiaries in Botswana, Ghana, Mauritius, Tanzania, Seychelles and Zambia, from Barclays Plc’s data centre in the United Kingdom to Absa’s data centre in South Africa. The move organized from
