Maria Ramos mum on imminent announcement from Absa’s UK parent
Barclays Africa CEO says the group has completed a three-year plan to transform itself into a standalone pan-African bank
Will Barclays Africa Group soon be Absa again? When the group released its results for the year to end-December on Thursday morning, it said its UK parent Barclays would be making an announcement later in the day. Barclays reduced its stake in its South African subsidiary to 50.1% in May by selling 12.2% of its shares for R13bn, and has said it intends divesting of its remaining stake. During a conference call, CEO Maria Ramos said the group had completed a three-year plan to transform itself into a standalone pan-African bank. She declined to comment on the Barclays announcement before its release. The contribution from the rest of Africa grew to 23% of the group’s R72.4bn net income, up from 21% in the year-earlier period. Barclays Africa reported net income growth of 7.7% and headline earnings growth of 5% to R15bn. Barclays Africa declared a final dividend of R5.70, which, when added to its R4.60 interim dividend, took the total for the year to R10.30, a 3% increase on the previ...
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