• Debswana completes refurbishment of Camphill Trust projectSeptember 11, 2025
    The Orchard Restaurant reopens   GORATAONE KGOSIMORE RelatedPosts Debswana completes refurbishment of Camphill Trust project KHAMA IV INITIATIVES SPARK TRIBAL TENSIONS BSB leads Africa’s banking revolution  editors@thepatriot.co.bw   Debswana through itsCorporate Social Investment (CSI) Programmelast year funded the Camphill… Read more: Debswana completes refurbishment of Camphill Trust project
  • KHAMA IV INITIATIVES SPARK TRIBAL TENSIONSSeptember 11, 2025
    Nkange MP dismisses Bangwato authority in Tutume To bring motion to repeal of Tribal Territories Act ‘It’s not asserting control but promotion of arts, sports’- Khama IV KITSO RAMONO editors@thepatriot.co.bw RelatedPosts Debswana completes refurbishment of Camphill Trust project KHAMA… Read more: KHAMA IV INITIATIVES SPARK TRIBAL TENSIONS
  • BARODSA VACANCY – Managing Directorcum Chief Executive OfficerSeptember 10, 2025
    RelatedPosts BARODSA VACANCY – Managing Directorcum Chief Executive Officer GREAT PLAINS- VACANCY CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)
  • GREAT PLAINS- VACANCYSeptember 10, 2025
    RelatedPosts BARODSA VACANCY – Managing Directorcum Chief Executive Officer GREAT PLAINS- VACANCY CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)
  • CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)September 9, 2025
    RelatedPosts BARODSA VACANCY – Managing Directorcum Chief Executive Officer GREAT PLAINS- VACANCY CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
  • Login
  • Register
Friday, September 12, 2025
The Patriot On Sunday
Advertisement
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
Cart / $0.00

No products in the cart.

  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
The Patriot On Sunday
No Result
View All Result

SA boosts Absa group

patriot by patriot
February 5, 2021
in Business
0

Financial giant ABSA has reported a 6% increase in revenue for the first half of 2019 to reach R39.1 billion as the Group successfully mitigated the negative effects of the economy.

“ABSA Group’s largest business unit, Retail and Business Banking South Africa (RBB SA), is showing faster than market growth in key product areas, in line with the group’s commitment to regain its leading position.RBB SA increased its share of home loans new business, with home loan registrations growth of 16% – more than double the growth in total home loan registrations in South Africa during the first half. Retail deposits grew 12% while the market increased 9%. New personal loans increased 20%, RBB SA reported a 4 % increase in earnings,’’ the group said in statement.

RelatedPosts

BSB leads Africa’s banking revolution 

RMB hosts CEOs Roundtable on Renewable Energy

BIHL withstands tough times

RBB SA, which accounts for more than 60% of the group income, has largely completed its reorganisation with expectations to reap further benefits from its integration with Absa’s wealth, investment management and insurance business.

Giving the financial results overview on Tuesday, the Group’s acting CEO, Rene van Wyk, said significant progress has been made with Absa’s reorganisation following the implementation of the new strategy in March 2018, and they are now beginning to see results.

“There is still, however, significant work to be done before we can reach our growth, returns and cost targets – a difficult task in a challenging environment,” said van Wyk.

He insisted that the group’s commitment to harnessing new opportunities was vital in positioning the company to be customer centric.

The group said normalised headlines earnings increased to R8.3 billion during the first six months of the year from R8.04 billion during the same period in 2018, as operating cost went 6% up.

Normalised earnings are considered the best measure of underlying group perfomance as it strips out the distorting effect of items related to the separation exercise from Barclays PLC.

Moreover, the company’s subsidiaries outside of South Africa, collectively known as Absa Regional Operations (ARO), continued to increase their contribution to group earnings.

ARO’s earnings jumped 8% up during the period under review to account for more than a fifth of total Absa Group earnings.

“ARO remains a key contributor to the Group’s perfomance and with our strong focus on entrenching our brand across the African continent we have built a strong base to drive growth and to attain Pan-African aspirations,” said Absa Group Deputy Chief Executive Officer and ARO CEO, Peter Matlare.

Matlare buttressed that investments in digitalisation as well as new ways of banking allow the Group to challenge existing models – consequently positioning Absa for vital growth.

Parallel to the reorganisation work across business units, Absa says it continues to make good progress in separating its operations from Barclays PLC, and is aiming to enhance its digital capability too.

Barclays Bank of Botswana spokesperson Spencer Moreri said locally the bank is still observing the close period until September and hence will not be issuing any financial statements.

Tags: ABSASA
Previous Post

IEC headache: voter transfer requests

Next Post

BCL liquidation gobbles over P1 billion while…. Phikwe BLEEDS, TREMBLES

Related Posts

BSB leads Africa’s banking revolution 
Business

BSB leads Africa’s banking revolution 

September 9, 2025
RMB hosts CEOs Roundtable on Renewable Energy
Business

RMB hosts CEOs Roundtable on Renewable Energy

September 4, 2025
BIHL withstands tough times
Business

BIHL withstands tough times

September 4, 2025
Botswana\’s Top 100 CEOs unveiled
Business

Botswana\’s Top 100 CEOs unveiled

August 29, 2025
Betway fixingwithdrawal glitches
Business

Betway fixingwithdrawal glitches

August 29, 2025
Bold pitch for BETP
Business

Bold pitch for BETP

August 27, 2025
Next Post
BCL liquidation gobbles over P1 billion while…. Phikwe BLEEDS, TREMBLES

BCL liquidation gobbles over P1 billion while.... Phikwe BLEEDS, TREMBLES

Please login to join discussion
  • Debswana completes refurbishment of Camphill Trust projectSeptember 11, 2025
    The Orchard Restaurant reopens   GORATAONE KGOSIMORE RelatedPosts Debswana completes refurbishment of Camphill Trust project KHAMA IV INITIATIVES SPARK TRIBAL TENSIONS BSB leads Africa’s banking revolution  editors@thepatriot.co.bw   Debswana through itsCorporate Social Investment (CSI) Programmelast year funded the Camphill… Read more: Debswana completes refurbishment of Camphill Trust project
  • KHAMA IV INITIATIVES SPARK TRIBAL TENSIONSSeptember 11, 2025
    Nkange MP dismisses Bangwato authority in Tutume To bring motion to repeal of Tribal Territories Act ‘It’s not asserting control but promotion of arts, sports’- Khama IV KITSO RAMONO editors@thepatriot.co.bw RelatedPosts Debswana completes refurbishment of Camphill Trust project KHAMA… Read more: KHAMA IV INITIATIVES SPARK TRIBAL TENSIONS
  • BARODSA VACANCY – Managing Directorcum Chief Executive OfficerSeptember 10, 2025
    RelatedPosts BARODSA VACANCY – Managing Directorcum Chief Executive Officer GREAT PLAINS- VACANCY CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)
  • GREAT PLAINS- VACANCYSeptember 10, 2025
    RelatedPosts BARODSA VACANCY – Managing Directorcum Chief Executive Officer GREAT PLAINS- VACANCY CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)
  • CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)September 9, 2025
    RelatedPosts BARODSA VACANCY – Managing Directorcum Chief Executive Officer GREAT PLAINS- VACANCY CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)
The Patriot On Sunday

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?