EDITORIAL: Rudderless Absa afloat in fiercely competitive market
SA's third-largest bank should have prepared for Maria Ramos’s departure as banks engage in a fee-cutting war
A year in a fast-changing, increasingly competitive banking industry can have a dramatic impact on the fortunes of SA banks. But for Absa, SA’s third-largest bank by market value, 2019 could turn out to be the year of counting losses.
Part of the reason is down to the lender having to ride out 2019 with the corner office occupied by an interim boss, as it is yet to fill the leadership void left by Maria Ramos, who retired earlier this year after 10 years at the helm.