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August 01, 2015 9:24 AM ET


Company Overview of Absa Bank Limited

Company Overview

Absa Bank Limited provides banking and financial products and services to individual, retail, commercial, and corporate customers primarily in South Africa and Namibia. Its individual banking and financial products and services include transactional accounts, credit cards, saving and investment solutions, prepaid debit cards, and international banking; car, personal, overdraft, and education loans; debt management services; car, portable possession, life, funeral cover, household contents, wills, trusts and estates, building/homeowner’s, travel, private, and credit protection insurance; and savings accounts, term deposits, notice deposits, savings plans, joint solutions, offshore solutions, ...

Barclays Towers West

7th Floor

15 Troye Street

Johannesburg,  2001

South Africa

Founded in 1991


27 11 350 4000

Key Executives for Absa Bank Limited

Chief Executive Officer and Executive Director
Age: 56
Deputy Chief Executive Officer, Finance Director and Executive Director
Age: 45
Chief Operating Officer
Age: 48
Chief Executive of Corporate and Investment Banking
Age: 47
Chief Executive of Wealth, Investment Management and Insurance
Age: 46
Compensation as of Fiscal Year 2015.

Absa Bank Limited Key Developments

Absa Bank Limited Declares Preference Dividend for the Period from March 1, 2015 to August 31, 2015, Payable on September 14, 2015

Absa Bank Limited announced that notice is hereby given that preference dividend number 19, equal to 70% of the average prime rate for 1 March 2015 to 31 August 2015, per Absa Bank preference share has been declared for the period 1 March 2015 to 31 August 2015. The dividend is payable on 14 September 2015, to shareholders of the Absa Bank preference shares recorded in the register of members of the Company at the close of business on 11 September 2015.

Absa Bank Limited Reports Unaudited Consolidated Financial Results for the Six Months Ended June 30, 2015

Absa Bank Limited reported unaudited consolidated financial results for the six months ended June 30, 2015. For the six months, the company reported net interest income of ZAR 13,330 million against ZAR 12,342 million for the same period of last year. Total income was ZAR 22,391 million against ZAR 21,430 million for the same period of last year. Operating income before operating expenditure was ZAR 19,776 million against ZAR 18,488 million for the same period of last year. Operating profit before income tax was ZAR 6,661 million against ZAR 5,974 million for the same period of last year. Profit attributable to ordinary equity holder was ZAR 4,677 million against ZAR 4,093 million for the same period of last year. Diluted earnings per ordinary share was 1,180.5 cents against 1,062.8 cents for the same period of last year. Net cash generated from operating activities was ZAR 2,841 million against ZAR 2,937 million for the same period of last year. Headline earnings were ZAR 4,655 million against ZAR 4,040 million for the same period of last year. Diluted headline earnings per share was 1,174.9 cents against 1,049.1 cents for the same period of last year.

African Bank Extended Offer Period For Standard General Insurance

African Bank Investments Limited (OTCPK:AFRV.Y) extended the offer period to sell The Standard General Insurance Company Limited to July 13, 2015. African Bank received offers from Absa Bank Limited, Capitec Bank Limited, FirstRand Bank Limited, Investec Bank Limited, Nedbank Limited, The Standard Bank of South Africa Limited and Public Investment Corporation Limited.

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