Absa, which announced a shake-up to its organisational structure two months ago, is looking to grow its corporate and investment banking franchise in the rest of Africa by increasing earnings in the markets where it already operates and expanding into new territories.
The operational revamp Absa announced on June 30 saw it expand from two business clusters to five with the lucrative CIB unit being renamed CIB Pan-Africa, a clear indication of where it sees its future growth prospects. While SA still accounts for 69% of the CIB Pan-Africa unit’s headline earnings, which reached R4.
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