Banking group Absa on Monday reported a 3% increase to R16.1 billion in 2018 normalised headline earnings and said its return on equity improved to 16.8% from 16.5%.It said 2018 was a year of almost unprecedented corporate activity as the group, formerly owned by the UK’s Barclays, repositioned itself for delivery against a new growth strategy as an independent African bank.
Group financial director Jason Quinn said: “Despite a challenging backdrop, we are particularly pleased with our improved momentum as we embark on our new growth strategy.
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