Absa: The good, the bad and the Arrie
The noise about Rautenbach’s departure all but drowned out news of yet more disappointing financial results at the bank
29 August 2024 - 05:01
Absa’s interim results to June 2024 were far from stellar. While the other two big banks that have reported results, Nedbank and Standard Bank, notched up increases in headline earnings, at Absa they fell 5% to R10.2bn.
But media coverage has focused less on the numbers and more on the early retirement of CEO Arrie Rautenbach after just two years in the job. Absa had been roundly criticised for appointing a white CEO. ..
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