Tag: Absa

ABSA sees massive H1 headline earnings drop as COVID-19 weigh on the business

Banking group ABSA has reported a drop in interim profits impacted by its 297 per cent increase in credit impairments which resulted in an 82 per cent plunge in headline earnings and no interim or full year dividend is forecasted for 2020. ABSA CEO, Daniel Mminele joins CNBC Africa for more.

S.Africa’s Absa says full-year dividend unlikely after interim profit tumbles

The lender, in the midst of a turnaround drive when the pandemic struck, had already warned that bad loans would blow a hole in its performance and drag earnings down...

South Africa’s July Absa PMI signals slower manufacturing improvement

JOHANNESBURG (Reuters) - South Africa’s seasonally-adjusted Absa Purchasing Managers’ Index (PMI) expanded in July, although at a slower rate compared to the previous month. The index, which...

COVID-19: Tracking market movements across the African continent

S&P Global Ratings has affirmed Uganda’s foreign and local currency long- and short-term sovereign ratings with stable outlook. And the week ahead if filled with inflation data from Nigeria, Botswana and GDP numbers from Ghana. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa for more.

Here’s how to apply for SA’s COVID-19 loan guarantee scheme

A multi-billion rand loan guarantee scheme announced by South African President Cyril Ramaphosa last month is now officially in operation, with the assistance of the country’s major banks, including FNB, Investec, Standard Bank and Absa.

South Africa’s Capitec says full-year profits rise by 19%, skips dividend

South African lender Capitec said on Tuesday it would not pay a dividend for its full year, although profits rose by 19%, in line with guidance from the country’s central bank to scrap payouts amid the coronavirus outbreak.

SA’s banks reveal how small businesses can apply for the R1bn Oppenheimer fund

Three of South Africa’s major banks have revealed to CNBC Africa how small businesses can apply for funding from the South Africa Future Trust. This is what they had to say.

Absa launches COVID-19 payments relief programme

Yesterday Absa revealed measures to lessen the burden on its customers as South Africa weathers the storm of COVID-19, #21daylockdwon and a downgrade to junk by Moody’s. Bongiwe Gangeni, Deputy Chief Executive Officer for Retail & Business Bank at Absa joins CNBC Africa for more.