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Derrick
04-12-2012, 12:27 PM
The Absa Group Limited is the largest consumer bank in South Africa.

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.

In 2011, for the sixth year in a row, Absa walked away with the Coolest Bank Award at the Sunday Times Generation Next Awards which were held at the Theatre on the Track in Kyalami, Johannesburg. 7000 youths from across six different provinces voted for Absa as the Coolest Bank in the annual Sunday Times Generation Next 2011 Survey.

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.

Source: Wikipedia (http://en.wikipedia.org/wiki/Absa_Group)

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