Absa Group Reports Increase in 2018 Earnings; Resets for Delivery Against Strategy

Absa Corporate and Investment Bank (CIB) has launched South Africa’s first range of volatility managed Exchange Traded Funds (ETFs) via its NewFunds ETF platform

We have stepped up efforts to combat a recent spike in illicit debit orders and will file criminal charges against those suspected of being responsible.

2019

22 February 2019

Budget speech

We have summarised Finance Minister Tito Mboweni’s one-hour maiden Budget speech, in which he had to juggle a lack of revenue, a need to cut costs, and urgent spending requirements, to bring you what you need to know.

Absa Wealth Management has won several first places in the prestigious Euromoney Private Banking and Wealth Management Survey 2019, testimony to the bank’s excellent Wealth offering

South Africa has seen an increase in the severity of fires over the past few years, with the recent devastating fire in Betty’s Bay showing just how quickly a fire can spread out of control.

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose to 49.5 index points in November from 42.4 in October. This was the PMI’s first increase after three straight months of declines and brought the index to the best level since July 2018.

The PMI rose from 49.5 in November to 50.7 points in December, which is just above the neutral mark and signals growth in the sector.

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) remained virtually unchanged at a very weak level of 43.2 points in September 2018. The latest figure dashed any hope that the sharp PMI decline in August was a once-off occurrence.

2018

12 February 2019

Absa August PMI

The deterioration was driven by sharp declines in the new sales orders index as well as the business activity index.