Posted on :
3 May, 2012
3 May, 2012
The Group’s business is conducted primarily in South Africa. It also has equity holdings in banks in Mozambique and Tanzania, representative offices in Namibia and Nigeria and bancassurance operations in Botswana and Mozambique.
At 31 December 2011, the Group had 718,2 million shares in issue and a market capitalisation of R101,27 billion. The Group had assets of R786,7 billion, 12,1 million customers, 9 541 automated teller machines and 35 200 permanent employees.
Absa Group Limited (Absa) is a one of the “big four” consumer banks in South Africa. As one of SA’s largest financial services institutions it offers a comprehensive range of banking solutions including wealth management, investment management, retail and commercial banking, finance and insurance.
The Group has several prominent banking awards under its belt. In 2009 it was awarded the coveted African Banker accolade as the most Innovative Bank in Africa and New York’s Global Finance magazine named it the Best Islamic Bank in the Middle East and Africa. The year 2010 saw the Group scoop two PMR Africa Silver Arrow Awards for Islamic Banking; the Asian Banker honoured it with two awards as the Best Mobile Phone Banking internationally and Best Retail Bank in South Africa; and one of its divisions, Absa Capital, ranked Overall Top Bank in the 2010 Risk Magazine South Africa survey
Absa is a subsidiary of Barclays Bank PLC, which holds a stake of 55,5% in the Group. Barclays is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services with an extensive international presence in Europe, the USA, Africa and Asia.