Absa Group Structure
ABSA Group Limited is structured into a number of divisions which provide various services:
- ABSA Bank Limited – retail, commercial, and investment banking
- ABSA Financial Services Limited – financial services, short- and long-term insurance, wealth management and investment management services
- ABSA Capital – Investment banking unit
- ABSA Asset management
- ABSA Life
- ABSA Insurance Company
- ABSA Fund Managers
- ABSA Mortgage Fund Managers
- ABSA Health Care Consultants
- ABSA Secretarial Services
In addition to these, Absa has other subsidiaries operating throughout various parts of Africa (through majority shareholdings in Angola, Mozambique and Tanzania and minority shareholdings in Namibia and Zimbabwe), as well as other interests in the banking and property sectors.
At the beginning of 2006, Absa took over Barclays’ South African subsidiary. Over the next five years, Absa and Barclays plan for Absa to take over all of Barclays' African operations (except Egypt) through a series of acquisitions, which could make ABSA-Barclays the largest bank in Africa.
Read more about this topic: Absa Group
Famous quotes containing the words group and/or structure:
“Unless a group of workers know their work is under surveillance, that they are being rated as fairly as human beings, with the fallibility that goes with human judgment, can rate them, and that at least an attempt is made to measure their worth to an organization in relative terms, they are likely to sink back on length of service as the sole reason for retention and promotion.”
—Mary Barnett Gilson (1877–?)
“Who says that fictions only and false hair
Become a verse? Is there in truth no beauty?
Is all good structure in a winding stair?
May no lines pass, except they do their duty
Not to a true, but painted chair?”
—George Herbert (1593–1633)