Overview
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.
Absa primarily operates in South Africa and has headquarters in Johannesburg. However, it has grown its business across the African continent and has equity holdings in Tanzania and Mozambique as well as representative offices in Namibia and Nigeria.
As of 30 June 2011, Absa Group Limited had 718 billion shares in issue and a market capitalization of R92, 82 billion. The Group had assets to the value of 718 billion, 12, 3 million customers, 9288 ATMs nationwide and 36 535 permanent employees.
Absa is a subsidiary of Barclays Bank – a major global financial services provider. Barclays acquired Absa on May 2005, and is today the majority shareholder with a stake of 55.5% in the Group.
Absa is a signatory of the South African Financial Sector Charter and one of the major issuers of the Mzansi Account.
Read more about this topic: Absa Group