A good week
The corner (home) office may have been a baptism of fire for Absa CEO Daniel Mminele, but the fact is that shares in the bank — a market laggard for ages — were the best-performing among its banking peers this past year, notwithstanding the horrors of Covid. Keeping the second-half headline earnings decline to 19% is no mean feat. However, unlike its peers Standard Bank and FirstRand, Absa has clutched onto its reserves and shareholders won’t be getting a dividend. More’s the pity...
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