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| ABSA office in Pretoria |
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Absa Group Limited (Absa) (JSE: ASA) is one of South Africa’s largest financial services companies offering a complete range of banking, insurance and wealth management products and services. Absa is a subsidiary of Barclays Bank, which holds a stake of 55,52% in the Group (in 2005 Barclays acquired a 56.4% stake in Absa, which represents the largest foreign direct investment in the country). Absa's business is conducted primarily in South Africa. In addition to this, the Group has other subsidiaries operating throughout various parts of Africa (through majority shareholdings in Angola, Mozambique and Tanzania and minority shareholdings in Namibia and Zimbabwe). The Group employs over 36,000 staff and serves more than 11.8 million customers of which 11.1 million in South Africa. ABSA Bank is a wholly owned subsidiary of ABSA Group Limited. At the end of December 2010, the Group had total assets of R716.5 billion (US$108.4 billion) and a market capitalisation of R100.5 billion (US$15.2 billion).
ABSA Group Legal Structure
Absa Bank Ltd, ABSA Financial Services Ltd, Absa Capital, Absa Asset management, Absa Stockbrokers, Absa Portfolio Managers, Absa Life, Absa Insurance Company, Absa Fund Managers, Absa Mortgage Fund Managers, Absa Trust Limited, Absa Health Care Consultants, Barclays Bank Mozambique (95.9%), National Bank of Commerce (Tanzania) (55%), Woolworths Financial Services (50%+1 share), Absa Namibia.
Mozambique and Tanzania
Absa has an 80% stake in Barclays Bank Mozambique (BBM), previously known as Banco Austral. BBM is one of the largest retail banks in Mozambique, with offices in all the provinces servicing more than 400,000 clients. The Absa stake in National Bank of Commerce (NBC) currently stands at 55%. NBC is one of the largest and oldest banks in Tanzania and was named ‘Bank of the Year’ in Tanzania in 2007. NBC serves over 220,000 retail and corporate customers.
Absa's Major Shareholders
| Major ordinary shareholders (%) |
30 June 2010 |
31 December 2009 |
| Barclays Bank PLC |
55.5 |
55.5 |
| Public Investment Corporation |
9,2 |
8.6 |
| Batho Bonke Capital (Propriety) Limited |
5.1 |
5.1 |
| Old Mutual Asset Managers |
3.1 |
3.1 |
| STANLIB Asset Management |
1,9 |
1.7 |
| Sanlam Investment Management |
1.5 |
1.4 |
| Investec Securities (Proprietary) Limited |
0,9 |
0,8 |
| Prudential Portfolio Managers |
0,8 |
n/a |
| Capital Group Companies Inc. |
0,8 |
n/a |
| Dimensional Fund Advisors Inc. |
0.8 |
n/a |
| Other |
20.4 |
23.8 |
| Total |
100.0 |
100.0 |
Head office address:
3rd Floor, Absa Towers East
170 Main St.
Johannesburg 2001
South Africa
Phone: +27-11-350-4000
Fax: +27-11-350-4009
Website: http://www.absa.co.za
Barclays Bank Mozambique S.A.
EdifÍcio Sede
Av. 25 de Setembro
1184
Phone: +258 21 351 700/1
Fax: +258 21 32 3470
National Bank of Commerce (Tanzania)
Sokoine Drive / Azikiwe Street
PO Box 1863
Dar es Salaam
Tanzania
Phone: +255 22 211 2082, 22 211 1970, 22 211 1971
Fax: +255 22 211 2887
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