Absa’s new CEO, who is yet to be announced, will have their work cut out for them as the country’s third-largest bank warned its journey to regain market share lost over the years will not be easy or short.
After Absa became the latest of the big four to report a single-digit increase in interim earnings due to subdued economic activity, which continues to affect banks’ ability to lend and grow deposits, it revised its earnings outlook for 2019 downwards and expects its return on equity to be lower...
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