South Africa’s biggest retail banking group, Absa — a subsidiary of the United Kingdom’s Barclays Group — is to establish a corporate bank this year, Absa CEO Maria Ramos disclosed on Tuesday.
She said the new bank would provide a fully integrated corporate investment banking offering, with a broad suite of investment banking solutions.
The establishment of the corporate bank was part of the group’s growth strategy in Africa.
”Africa remains an area of growth for us, especially in countries where Barclays are represented,” Ramos said. — I-Net Bridge