We’re probably doing the same [number of loans to farmers]… We continue to see opportunities in that space… We have to wait and see what the outcome of the Parliamentary process is… this is a very big issue in our country and we need to find a resolution… our understanding of Section 25 is that it already provides for expropriation without compensation… We do need to go through this process… It’s the uncertainty that creates the difficulty for everybody.— Maria Ramos, Absa Group
Costs totalling R1.4 billion related to Absa’s separation from Barclays saw the African banking behemoth’s half-year profits fall by 4%.
Absa Group on Monday reported headline earnings per share (EPS) of 877.8 cents in the six months to 30 June, compared to 917.3 cents a year earlier.
Absa’s retail unit grew headline earnings by 4% to R4.2 billion.
Listen to the interview in the audio below (and scroll down for more quotes from it).
GDP growth has been revised downwards… but we’ve delivered results within expectations…— Maria Ramos, Absa Group
We’re well underway with a significant separation… Barclays is just another shareholder now…— Maria Ramos, Absa Group
If we were not going through this change… our headline earnings are actually up 3%...— Maria Ramos, Absa Group
We’ve been very focused on digital… WhatsApp banking, Samsung Pay…— Maria Ramos, Absa Group
Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:
Recommendedby NEWSROOM AI
More than 70% of lotto winners go broke, warns Warren Ingram, a personal financial advisor at Galileo Capital.
There are dangers, but you can save money and take control. Ray White interviews Francois Strydom (Momentum Securities).
The Money Show’s Bruce Whitfield interviews Dr Tobias Bischof-Niemz, CEO at ENERTRAG South Africa.
The web was supposed to connect buyers to sellers, but not like this.
TymeBank has no branches and no monthly fees. Most transactions are free. Bruce Whitfield interviews its CEO.
Hanru Reyneke is on a mission to disrupt the used-car industry in South Africa by providing peace of mind to punchdrunk consumers.
NG Kerk dominee Riaan de Villiers says he was told he is not allowed to call Muslims our brother and sisters, and children of God.
Independent consultant at the Thabo Mbeki Foundation Professor Barney Pityana blames political leadership for the moral decay.
Gift of the Givers continues to rescue desperate people of Mozambique who were clinging to trees after cyclone Idai hit the country.
Khabazela shares tweets and Facebook posts that have gone viral.
An ambulance crew was held at gunpoint, assaulted and robbed of their belongings while on a call out in Khayelitsha.
MultiChoice will increase the prices of certain DStv packages from 1 April.
Eskom has warned that more power cuts can be expected as maintenance continues over the next twelve months.