Latest news with #AbsaGroupLtd
Bloomberg
21 hours ago
- Business
- Bloomberg
South Africa Drives Interim Profit at Absa as New CEO Enters
Absa Group Ltd. posted a 14% increase in first-half profit as cost-cutting and an organizational restructure delivered dividends for South Africa's third-largest bank. Net income attributable to shareholders climbed 14% to 11.2 billion rand ($638 million) in the six months through June, the Johannesburg-based lender said in a statement on Monday. Lower credit impairments boosted Absa's unit in South Africa, it said in a statement.
Bloomberg
03-04-2025
- Business
- Bloomberg
Investment Banker Says Uncertainty Imperils South Africa's Deals
Fractures within the South African government — along with global macroeconomic uncertainty — are weighing on dealmaking activity in the continent's largest economy, according to one of the country's top investment bankers. Uncertainty about a key vote on South Africa's budget and what it portends for South Africa's coalition government have put a damper on business confidence, according to Yasmin Masithela, chief executive officer of Absa Group Ltd. 's corporate- and investment-banking unit. That's weighed on M&A activity despite the fact that corporate cash piles remain near records, she said.
