Edition:
India

Absa Group Ltd (ABGJ.J)

ABGJ.J on Johannesburg Stock Exchange

15,288.00ZAc
13 Dec 2019
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Latest Key Developments (Source: Significant Developments)

Absa Group And Absa Bank Have Completed Their Processes To Appoint Group CEO
Monday, 12 Aug 2019 

Aug 12 (Reuters) - Absa Group Ltd ::ABSA GROUP LTD - BOARDS OF ABSA GROUP AND ABSA BANK HAVE COMPLETED THEIR PROCESSES TO APPOINT A GROUP CHIEF EXECUTIVE OFFICER.ABSA GROUP LTD - INDIVIDUAL TO TAKE ON AS CEO WILL BE ANNOUNCED IN DUE COURSE AND WILL TAKE UP OFFICE IN JANUARY 2020.  Full Article

Absa Group FY Diluted Normalised HEPS Grew 4 Pct To 1 910 Cents
Monday, 11 Mar 2019 

March 11 (Reuters) - Absa Group Ltd ::FY DILUTED NORMALISED HEPS GREW 4% TO 1 910.0 CENTS FROM 1 845.4 CENTS.FY GROUP DECLARED A 4% HIGHER FULL YEAR DIVIDEND PER SHARE (DPS) OF 1 110 CENTS.FY REVENUE GREW 4% TO R75.7BN ON NORMALISED BASIS.FY RETURN ON EQUITY (ROE) DECLINED TO 13.4% FROM 14.2%.FY NET ASSET VALUE (NAV) PER SHARE INCREASED 1% TO 13 233 CENTS.FY HEPS, WHICH INCLUDED R3.2BN OF SEPARATION COSTS, RECOGNISED AS OPERATING EXPENSES, DECREASED 1% TO 1 703.7 CENTS.FY REVENUE INCREASED 4% TO R76.5BN ON IFRS BASIS.NORMALISED CET1 AND TOTAL CAPITAL ADEQUACY RATIOS WERE 12.0% AND 15.4% AT FY END (FROM 12.1% AND 14.9%), RESPECTIVELY.OUR NET INTEREST MARGIN IS LIKELY TO DECLINE SLIGHTLY FOR 2019.GROUP CET1 RATIO SHOULD REMAIN ABOVE BOARD TARGETS AND CO IS COMFORTABLE WITH DIVIDEND COVER AT CURRENT LEVELS FOR 2019.ROE SHOULD INCREASE SLIGHTLY IN 2019, ON PATH TO ACHIEVING OUR TARGET OF 18% TO 20% BY 2020.  Full Article

Absa Banks Says New Structure Will Consist Of 4 Businesses
Monday, 9 Apr 2018 

April 9 (Reuters) - Absa Bank Ltd ::CHANGES TO GROUP STRUCTURE AND MANAGEMENT.SOUTH AFRICA BANKING WILL CEASE TO BE A MANAGEMENT OR REPORTING SEGMENT.DAVID HODNETT, CURRENTLY DEPUTY CHIEF EXECUTIVE, WILL TAKE A TWO-MONTH SABBATICAL..NEW STRUCTURE WILL CONSIST OF 4 BUSINESSES, INCLUDING RETAIL AND BUSINESS BANKING SOUTH AFRICA; CORPORATE AND INVESTMENT BANKING.ARRIE RAUTENBACH BECOMES CHIEF EXECUTIVE OFFICER OF RBB SOUTH AFRICA.NEW STRUCTURE WILL CONSIST OF 4 BUSINESSES, INCLUDING REST OF AFRICA BANKING; AND WEALTH, INVESTMENT MANAGEMENT AND INSURANCE (WIMI).PETER MATLARE, CURRENTLY DEPUTY CHIEF EXECUTIVE, REMAINS RESPONSIBLE FOR REST OF AFRICA BANKING.NOMKHITA NQWENI CONTINUES AS CHIEF EXECUTIVE OFFICER, WIMI..CIB REMAINS UNDER JOINT LEADERSHIP OF TEMI OFONG AND MIKE HARVEY.  Full Article

Absa Bank Says Barclays Separation ‍Process Will Have Impact On Financial Results For Next Few Years​
Thursday, 1 Mar 2018 

March 1 (Reuters) - Absa Bank Ltd ::‍PROCESS OF BARCLAYS PLC SEPARATION OF WILL HAVE AN IMPACT ON ABSA'S FINANCIAL RESULTS FOR NEXT FEW YEARS​.  Full Article

Barclays Africa Says FY ‍Normalised Diluted HEPS Grew 4 Pct
Thursday, 1 Mar 2018 

March 1 (Reuters) - Barclays Africa Group Ltd ::FY ‍NORMALISED DILUTED HEADLINE EARNINGS PER SHARE (HEPS) GREW 4% TO 1,837.7 CENTS​.‍DECLARED A 4% HIGHER FULL YEAR DIVIDEND PER SHARE (DPS) OF 1070 CENTS​.FY ‍NORMALISED RETURN ON EQUITY (ROE) DECLINED SLIGHTLY TO 16,4% AND RETURN ON ASSETS (ROA) IMPROVED TO 1,38%​.FY ‍NORMALISED REVENUE GREW 1% TO R72,9BN AND OPERATING EXPENSES ROSE 4% TO R41,4BN​.FY ‍CREDIT IMPAIRMENTS FELL 20% TO R7,0BN, RESULTING IN A 0,87% CREDIT LOSS RATIO FROM 1,08​.‍EXPECT LOAN AND DEPOSIT GROWTH TO IMPROVE IN 2018​.‍FY NORMALISED COMMON EQUITY TIER 1 (CET1) RATIO OF 12,1% REMAINS ABOVE REGULATORY REQUIREMENTS AND ITS BOARD TARGET RANGE​.‍NET INTEREST MARGIN IS LIKELY TO DECLINE SLIGHTLY THIS YEAR​.‍EXPECT A STABLE CREDIT LOSS RATIO IN 2018​.FY ‍NAV PER SHARE INCREASED 5% TO 11 550 CENTS ON A NORMALISED BASIS​.‍2018 CET1 RATIO IS LIKELY TO REMAIN ABOVE BOARD TARGETS​.‍EXPECTS TO MAINTAIN CURRENT DIVIDEND COVER​.‍NORMALISED ROE SHOULD IMPROVE SLIGHTLY IN 2018​.FY ‍RATIO OF NON-PERFORMING LOANS (NPLS) TO GROSS LOANS AND ADVANCES IMPROVED TO 3,7% FROM 3,9%​.‍FY NET INTEREST INCOME INCREASED 1% TO R42 319M FROM R42 003M​.FY ‍NET INTEREST MARGIN (ON AVERAGE INTEREST-BEARING ASSETS) WAS FLAT AT 4,95%​.‍FY NON-INTEREST INCOME GREW 1% TO R30 581M​.  Full Article

S.Africa's Absa appoints new international head

JOHANNESBURG, Dec 11 South African lender Absa said on Wednesday it had appointed Cheryl Buss as chief executive of its international division, to lead its expansion outside of its home market.