Absa is making a clean break with the Barclays era, with its latest results showing a strong appetite for lending and a focus on the low-income market – both shunned by its former UK owner.
And while Absa rarely saw strong revenue growth – or increasing customer numbers – under Barclays, the group achieved both in the past year.
"Revenue growth was better in constant currency, up 8%, our strongest performance for several years. It [revenue] is an area where we've generally lagged peers in the past. So, it's good to see that improvement," said Absa interim CEO Jason Quinn.