Absa Group Limited

It is a financial group from South Africa specializing in business and banking services. It offers its commercial, personal, corporate and investment banking services in several countries of the continent.

History

It was founded under the name of Amalgamated Banks of South Africa in 1991 through the merger of United Bank, Allied Bank, Volkskas Bank Group and part of the Sage Group. A year later, the entity bought the shares of the Bankorp Group that included Senbank, Trustbank and Bankfin. In 1998, they merged and formed Absa Group Limited. In the mid-2000s, a part of the institution was acquired by Barclays Bank. In 2013, the group acquired shares of the Barclays African branch and changed its name to Barclays Africa Group Limited. In 2018, Barclays Africa decided to rename itself Absa Group Limited and changed its logo and motto.

Swift Code

The Swift Code (Society for Worldwide Interbank Financial Telecommunication), also known as BIC, is used during an international transfer to identify the receiving bank: ABSAZAJJ.

Number of Employees

The bank has approximately 40,000 employees.

Rating

The rating is the evaluation of a bank and the risks it can take in case of not paying a debt. Moody’s, S&P, and Fitch are the agencies in charge of it.

Absa Group Limited has a rating of:

  • Moody’s = Ba1.
  • Fitch = BB+.

Ba1 (Moody’s) = Questionable Credit Quality.

BB+ (Fitch) = It has high solvency, but sensitive to adverse changes.

Headquarters

The headquarters of the entity is in the city of Johannesburg, South Africa.

Website

If you want to know more about this bank, enter through its website: https://www.absa.africa/absaafrica/.

Services

  • Personal banking: The entity offers account management, credit cards, international and Islamic banking service. Also, it provides other banking, loans, savings, investments and insurance services.
  • Private banking: It allows private clients transactional banking solutions for accounts, credit cards, banking services, finance and wealth management.
  • Business banking: It allows commercial clients to finance their business, receive and make payments, perform banking operations, insurance, savings, investments and international banking.

Contact

  • Address: 7th Floor, Absa Towers West, 15 Troye Street, Johannesburg, 2001, PO Box 7735, Johannesburg, 2000
  • Phone Number: +27 (0) 11 350 4000