Capital reserves of R124bn will help shield bank against a possible global economic downturn
Two of Absa’s most senior executives have hinted that the bank may deploy its significant capital reserves to make new acquisitions with fintech buyouts and consolidation opportunities, in markets in which it does not now operate, being two of the most likely options.
SA’s fourth-biggest lender by market value has capital reserves of R124bn on its balance sheet, which could be used as a buffer against a possible global economic downturn while also allowing it to snap up growth opportunities in a banking sector that is likely to see some consolidation given the rapidly dimming future growth prospects...
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Absa hints at using its cash mountain for acquisitionsCapital reserves of R124bn will help shield bank against a possible global economic downturn
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