LATEST NEWS FOR Absa Bank Ltd.  

Absa Bank Ltd. (the Company) is incorporated and domiciled in South Africa and provides retail, business, corporate, investment banking, and wealth management products and services. The Company and its subsidiaries (the Bank) operate primarily in Sou... [more info]

Banks keeping staff, for now, as South Africa faces jobs carnage

8 May 2020 /  Roxanne Henderson, Bloomberg    12
Absa freezes new hires, while FNB, Nedbank and Capitec Bank aren’t looking to make any cutbacks.

Absa help 376 000 kliënte met skuldverligting

4 May 2020 /  Moneyweb  
Arrie Rautenbach – Bestuurshoof van Absa se Kleinhandel en Sakebank

Rand recovers after selloff, stocks fall

4 May 2020 /  Olivia Kumwenda-Mtambo, Reuters  
Bonds firmed, with the yield on the 10-year bond falling 8.5 basis points at 10.185%.

SA banks’ relief for virus-hit borrowers nears $800 million

4 May 2020 /  Emma Rumney, Reuters   1
More than 90 000 commercial, small and medium-sized firms had also applied, with 75 000 approved so far.

Absa PMI crashes to all-time low as economic activity freezes

UPDATE
4 May 2020 /  Mfuneko Toyana, Reuters   2
'The PMI survey shows the immediate, devastating impact the lockdown had on manufacturing output and overall demand,' Absa economist Miyelani Maluleke

How big might bank losses be?

4 May 2020 /  Hilton Tarrant   8
Meaningful forecasts are difficult, but perhaps R35bn collectively.

Rand firms as focus turns to fiscal measures, stocks dip

20 Apr 2020 /  Olivia Kumwenda-Mtambo, Reuters   4
In fixed income, the yield on the 2030 instrument was down 0.5 basis points at 10.300%.

Regulator penalises Absa Bank Kenya over anti-money-laundering lapses

9 Apr 2020 /  George Obulutsa, Reuters   1
Orders the bank to top foreign exchange dealing between April 9 and April 15.

South African bank stocks fall over 4% after Sarb advises against dividends

7 Apr 2020 /  Emma Rumney, Reuters   1
And exec bonuses.

How much Maria Ramos got paid on leaving Absa

3 Apr 2020 /  Hilton Tarrant   30
And what new CEO Daniel Mminele will earn …

Exec salaries: Will a cut boost morale?

2 Apr 2020 /  Ann Crotty   8
Exec skills will be critical in coming months, but the work of millions of front-line workers will be essential – and dangerous.

Rand roiled by rising South African growth fears

1 Apr 2020 /  Mfuneko Toyana and Tanisha Heiberg, Reuters  
Among the biggest fallers were gold mining shares, with Gold Fields and AngloGold Ashanti.

Fitch, Moody’s downgrade SA banks to junk

1 Apr 2020 /  Emma Rumney, Reuters   2
It said the lenders' overall sovereign exposure, including loans to often troubled state-related entities, averaged at 176% of their capital bases.

Absa PMI contracts for 14th straight month

1 Apr 2020 /  Olivia Kumwenda-Mtambo, Reuters  
The index, which gauges manufacturing activity in Africa's most industrialised economy, rose to 48.1 points in March from 44.3 points in February.

South African banks cut deeper into junk by Fitch on virus

1 Apr 2020 /  Vernon Wessels, Bloomberg   
Ratings reduced by one notch to BB.

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