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Absa Group Ltd (ABGJ.J)

ABGJ.J on Johannesburg Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Absa Group Says Reiterates Guidance For 2018
Friday, 7 Dec 2018 

Dec 7 (Reuters) - Absa Group Ltd ::ABSA GROUP - REITERATE GUIDANCE FOR 2018, INCLUDING THAT NORMALISED RETURN ON EQUITY IS EXPECTED TO INCREASE SLIGHTLY FROM 16.5% IN 2017.ABSA GROUP LTD - AIM TO ACHIEVE A NORMALISED GROUP RETURN ON EQUITY OF 18% TO 20% BY 2021, WHILE MAINTAINING AN UNCHANGED DIVIDEND POLICY.ABSA GROUP - AIM TO CONSISTENTLY REDUCE NORMALISED COST-TO-INCOME RATIO TO REACH LOW 50S BY 2021.ABSA GROUP - AIM TO GROW REVENUE FASTER, ON AVERAGE, THAN SA BANK SECTOR FROM 2019 TO 2021.  Full Article

ABSA Says Charles Russon Appointed CEO, Corporate And Investment Bank
Monday, 5 Nov 2018 

Nov 5 (Reuters) - Absa Bank Ltd ::ABSA BANK LTD - ABG - ABSP - EXECUTIVE APPOINTMENTS AND CHANGE TO ABSA GROUP AND ABSA BANK BOARDS.ABSA BANK - CHARLES RUSSON APPOINTED CHIEF EXECUTIVE: CORPORATE AND INVESTMENT BANK, IN RESPECT OF ABSA GROUP AND ABSA BANK, WITH IMMEDIATE EFFECT.ABSA BANK LTD - PAUL O'FLAHERTY BECOMES CHIEF EXECUTIVE: ENGINEERING SERVICE.  Full Article

Absa Group Says HY Diluted IFRS HEPS Decreased 4 Pct To 877.8 Cents
Monday, 6 Aug 2018 

Aug 6 (Reuters) - Absa Group Ltd ::HY DILUTED IFRS HEADLINE EARNINGS PER SHARE (HEPS), WHICH INCLUDES R1.4BN OF SEPARATION COSTS DECREASED 4% TO 877.8 CENTS.AN INTERIM DIVIDEND OF 490 CENTS WAS DECLARED REPRESENTING A 3% YEAR-ON-YEAR INCREASE.HY ABSA GROUP LTD'S IFRS COMMON EQUITY TIER 1 (CET 1) RATIO OF 13.3% REMAINS ABOVE REGULATORY REQUIREMENTS AND OUR BOARD TARGET RANGE.HY NORMALISED DILUTED HEPS GREW 3% (5% ON A CONSTANT CURRENCY BASIS) TO 949.5 CENTS.HY IFRS REVENUE GREW 3% TO R37.6BN.HY IFRS NET ASSET VALUE (NAV) PER SHARE ROSE 1% TO 12 829 CENTS.HY IFRS NON-INTEREST INCOME GREW 5% TO R16,267M FROM R15,532M.HY NET INTEREST INCOME INCREASED 3% TO R21,363 MILLION FROM R20,837 MILLION (NORMALISED: INCREASE OF 2% TO R21,188 MILLION FROM R20,791 MILLION).IN SOUTH AFRICA GROWTH PROSPECTS REMAIN CHALLENGING GIVEN SUBDUED BUSINESS CONFIDENCE AND HEADWINDS TO HOUSEHOLD SPENDING."EXPECT RESERVE BANK TO LEAVE INTEREST RATES UNCHANGED FOR SOME TIME".EXPECT LOAN AND DEPOSIT GROWTH TO IMPROVE IN 2018.OUTLOOK ON EMERGING MARKET GROWTH REMAINS SOLID ON THE BACK OF BETTER GROWTH IN DEVELOPED ECONOMIES AND RISING COMMODITY PRICES.NET INTEREST MARGIN IS LIKELY TO DECLINE SLIGHTLY THIS YEAR.EXPECT CREDIT LOSS RATIO TO IMPROVE IN 2018.CET1 RATIO IS EXPECTED TO REMAIN ABOVE BOARD TARGETS FOR 2018, WHICH WILL ALLOW TO MAINTAIN CURRENT DIVIDEND COVER.COSTS WILL REMAIN WELL CONTROLLED AND CO'S OPERATING JAWS SHOULD IMPROVE FROM LAST YEAR'S BUT IS UNLIKELY TO BE POSITIVE IN FY.  Full Article

Barclays Africa Says Plans To Change Name To 'Absa Group Ltd'
Thursday, 1 Mar 2018 

March 1 (Reuters) - Barclays Africa Group Ltd ::TO CHANGE GROUP'S NAME FROM "BARCLAYS AFRICA GROUP LTD" TO "ABSA GROUP LTD", SUBJECT TO REGULATORY AND SHAREHOLDERS' APPROVAL​.  Full Article

Barclays To Cut Stake In Barclays Africa To 14.9 Pct
Friday, 1 Dec 2017 

Dec 1 (Reuters) - Barclays Plc ::‍REDUCTION OF BARCLAYS' SHAREHOLDING IN BARCLAYS AFRICA GROUP LIMITED​.‍TOTAL SHAREHOLDING IN BAGL FOR REGULATORY REPORTING PURPOSES WILL REDUCE FROM 21.9% TO 14.9%​.‍SETTLEMENT OF TRANSFER IS EXPECTED TO OCCUR ON 5 DECEMBER 2017​.  Full Article

Barclays Africa says Barclays Plc reduces total interest to 14.9 pct​
Friday, 1 Dec 2017 

Dec 1 (Reuters) - BARCLAYS AFRICA GROUP LTD ::‍FOLLOWING CONTRIBUTION TO INTERIM B-BBEE STRUCTURE, TRANSFER TO FINANCIAL INSTITUTIONS, BARCLAYS' TOTAL INTEREST IN BARCLAYS AFRICA IS AT 14.9%​.  Full Article

Absa Bank files supplementary affidavit to challenge public protector's report​
Thursday, 14 Sep 2017 

Sept 14 (Reuters) - ABSA BANK LTD ::‍ABSA FILES SUPPLEMENTARY AFFIDAVIT TO CHALLENGE PUBLIC PROTECTOR'S REPORT​.‍FILED SUPPLEMENTARY AFFIDAVIT TO HIGH COURT IN ITS CASE TO HAVE CERTAIN FINDINGS AND REMEDIAL ACTIONS OF PUBLIC PROTECTOR'S REPORT REVIEWED AND SET ASIDE​.REPORT DEALT WITH FINANCIAL ASSISTANCE PROVIDED BY SOUTH AFRICAN RESERVE BANK (SARB) TO BANKORP, WHICH ABSA LATER BOUGHT.  Full Article

Absa Bank upsizes Harmony Gold's existing $250 mln debt
Friday, 18 Aug 2017 

Aug 18 (Reuters) - Absa Bank Ltd ::ABSA BANK - SUCCESSFULLY REFINANCED AND UPSIZED HARMONY GOLD LIMITED'S EXISTING USD 250,000,000 TERM DEBT TO A 3 YEAR USD 350,000,000 FACILITY.ABSA BANK LTD - TRANSACTION WAS OVERSUBSCRIBED WITH DEBT SYNDICATED TO A TOTAL OF 8 LENDERS, INCLUDING 3 NEW LENDERS.  Full Article

Absa Bank concludes $100 mln agreement with China Development Bank
Friday, 18 Aug 2017 

Aug 18 (Reuters) - ‍ABSA BANK LTD::CO, A SUBSIDIARY OF BARCLAYS AFRICA GROUP, AND CHINA DEVELOPMENT BANK CONCLUDE A $100 MILLION AGREEMENT​.‍INITIAL DRAWDOWN BASED ON CO'S CURRENT FUNDING NEEDS AND MAY BE INCREASED IN FUTURE TO ASSIST WITH NEW FUNDING OPPORTUNITIES WITHIN BAGL'S OPERATIONS​.  Full Article

Absa Bank says half-year diluted HEPS at 109.4 cents
Friday, 28 Jul 2017 

July 28 (Reuters) - Absa Bank Ltd ::Based on current requirements of basel iii, expected increase in accounting impairment provision would reduce common equity tier 1 (cet1) capital.Hy revenue 24,806 million rand versus 24,467 million rand.Diluted headline earnings per ordinary share 109,4 cents versus 123,2 cents.  Full Article

UPDATE 1-South African rand firms as ANC heads for re-election

JOHANNESBURG, May 10 South Africa's rand strengthened more than 1% on Friday on expectations of political continuity, as the governing African National Congress (ANC) headed for a national election victory.