FINANCIAL SERVICES
Absa eyes Standard Bank’s dominance in lucrative corporate banking business
Interim CEO Jason Quinn believes the bank has an opportunity to consolidate its brand and grow market share in Africa
16 August 2021 - 18:58
UPDATED 16 August 2021 - 23:01
Absa is taking aim at Standard Bank’s fee-rich corporate and investment banking (CIB) business as it seeks to tap new growth opportunities after its unbundling from Barclays.
Retail and business banking accounted for about 51% of Absa’s R8.18bn in headline earnings in the six months to end-June, with CIB bringing in the remaining 49% along with a small contribution from head office, treasury and the bank’s other operations...
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