Absa's interim financial director Punki Modise says Barclays almost killed Absa's proposition in the low-income segment.Absa is making a clean break with the Barclays era, with its latest results showing a strong appetite for lending and a focus on the low-income market – both shunned by its former UK owner.
And while Absa rarely saw strong revenue growth – or increasing customer numbers – under Barclays, the group achieved both in the past year. "Revenue growth was better in constant currency, up 8%, our strongest performance for several years. It [revenue] is an area where we've generally lagged peers in the past. So, it's good to see that improvement," said Absa interim CEO Jason Quinn.Subscribe to News24 for just R75 per month to read all our investigative and in-depth journalism. You can cancel any time.
Fin24 With the ridiculous bank charges, I doubt it’s possible and Barclays was just spot on.
Fin24 Brought to you by the same bank that now claims they are virologists. Scary
Fin24 I derived much joy when I got paid through bitcoin mining investment trade thanks to Ma'am Sarah she is the lady behind my success I have made over $20,000 in just few weeks trading on her platform wil92551217John
Fin24 Madness..ABSA should just close its doors. If they were 'awake'- shuld have seen tht th answer lies in Tech Innovation..They should be soliciting tech ideas and models that will blow away Capitec. NB!! Should be Willing to sign NDA. USSD is not store&forward will bring headaches.
Fin24 AbsaSouthAfrica RacistBanksMustFall
Fin24 Isn't Absa satisfied with being racist and discriminatory to black people?
Fin24 Catching up 🙄
Fin24 Good move.....