Absa Group Ltd - Company Profile
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Business Description
Absa Group Ltd (Absa Group) is a diversified financial services provider. The group offers retail banking, business banking, and corporate and investment banking to individuals, financial institutions, government, and corporates. It has a presence in South Africa, Botswana, Ghana, Kenya, Mauritius, Mozambique, Uganda, Tanzania, Seychelles, the UK, the US, Namibia, Nigeria, and Zambia. As of December 31, 2022, the group reported total assets of ZAR1,793,201 million, total deposits of ZAR1,222,848 million, and net loans of ZAR1,109,829 million.
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Business Segments
- Absa Regional Operations RBB
- Corporate and Investment Banking
- Everyday Banking
- Product Solutions Cluster
- Relationship Banking
- Head Office, Treasury and Other Operations
- Corporate and Investment Banking South Africa
Overview
Includes retail banking, business banking, and insurance ARO. Retail Banking- Provides day to day banking services to retail customers. Offers payments, cards, deposits, and transactional products. Business Banking- It has been identified as being particularly vital because it considerably helps to job creation and the growth of the national economy in the ARO presence areas. Customers are served through direct coverage, relationship-based methodology, and solutions that are specifically tailored to them. Insurance ARO-Includes life insurance and non-life insurance. Serves through various agents and digital channel platforms.
Performance
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Overview
Offers a diversified range of investment banking products and solutions to financial institutions, corporate and government clients. Provides specialist investment banking, risk management, financing and advisory solutions in all assets classes. Also offers corporate banking solutions such as trade, cash management, working capital, payments and liquidity products, and solutions.
Overview
The segment is sub-divided into three categories: card, personal loans, and transactional and deposits. Card-provides credit cards and in-store cards. Its brands and co-brands include Absa, Avios, British Airways, Woolworths Financial Services, and Virgin Money. Personal Loans-Provides unsecured installment loans. Serves through call centre agents, digital channels, and face-to-face engagements. Transactional and Deposits- Offers unsecured loan solutions through Internet banking, mobile banking, call centres, and face-to-face engagements.
Performance
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Overview
The segment is subdivided into four categories: home loans, vehicle and asset finance, insurance SA, and non-banking financial services. Home Loans- Offers residential and other property finance solutions through digital channels, mortgage originators, and estate agents. Vehicle and Asset Finance- Provides finance for light commercial vehicles and passenger vehicles to individuals. Serves through its branches, preferred Suppliers, and approved dealerships.. Insurance SA- Offers life insurance products including retrenchment, death, funeral, life wrapped, and disability. Its non-life insurance provides solutions to retail and commercial customers. Non-Banking Financial Services- includes advisory services, stock broking, portfolio management, investment in Sanlam Investment Holdings, estate planning, and wills drafting.
Performance
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Overview
The segment is subdivided into three categories: business banking services, commercial payments, and private wealth. Business Banking Services: Offers transactional banking and lending products, savings, investment products, commercial property finance, commercial asset finance, structured lending, overdrafts, and term lending. Commercial Payments- Offers payment services, money transfers, and cash back. Private Wealth- Offers wealth management services, savings, lending, investment products, and transactional banking.
Performance
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Overview
Includes investment income earned by the enterprise functions, group treasury, and consolidation center.
Performance
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Performance
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Geographical Segments
Performance
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Performance
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