AI Issue 9 2017

8 Acquisition International - September 2017 Absa Bank Limited (Absa Bank) is a wholly owned subsidiary of Barclays Africa Group Limited, which is listed on the Johannesburg Stock Exchange and is one of Africa’s largest financial services groups. After achieving the remarkable 2017 Banker of the Year - South Africa award status, the bank’s Head of Partnerships, Joint Ventures and Strategic Alliances Craig Bond provides a compelling and detailed look at the banking industry in the region. bsa Bank Limited (Absa Bank) offers a range of retail, business, corporate and investment banking and wealth management products and services primarily in South Africa and Namibia. Further details about the products and services Absa Bank offers are explained by their Head of Partnerships, Joint Ventures and Strategic Alliances Craig Bond, as this interview begins: “In South Africa, we are simply known as Absa. Most people know us because of our retail business but our portfolio is more diverse than that, and so are our customers. They vary from students receiving monthly allowances from their parents to large public and private sector corporates concluding extensive deals with the bank. “We tailor and provide solutions for all of them so that we can include as many people as possible in the financial system, and to grow our business. SMEs fall in our business banking space while larger corporates use us for a variety of services including lending, trading, investment banking and other needs in other areas of our business.” Absa Bank has a diversified portfolio of business in South Africa: • They have a significant retail banking business with branches and ATMs in all 9 provinces. • Absa has 9.4 million customers; an R918 billion balance sheet and almost 28,000 employees, supporting their portfolio of businesses. Company: Absa Bank Name: Craig Bond Head of Partnerships, Joint Ventures and Strategic Alliances Email: [email protected] Web: www.absa.co.za Address: 7th Floor, Barclays Tower West 15 Troye Street Johannesburg 2001 South Africa Phone: +027795131933 One of Africa’s Largest Financial Services Groups A 1706AI13 • Their business banking business includes agriculture as well as asset & vehicle finance. • Their corporate and investment bank provides corporate, lending, advisory and trading products to a variety of public and private sector clients. • Their WIMI business provides wealth, investment management, fiduciary and insurance products to millions of South African entities and individuals. Describing just how it feels to be awarded the 2017 Banker of the Year - South Africa accolade, is something that Craig is very keen to share with us. “I am deeply humbled. These awards are a team effort and I dedicate it to my fellow 42,000 colleagues who, despite various economic factors, have continued to serve our customers and communities with both passion and dedication. Following the 2008 global economic crisis, it became evident that there was a need for better regulation of financial services groups to ensure that institutions were stronger, more resilient and less exposed to risky assets. Craig gives us Absa Bank’s perspective on this. “Regulations were also introduced to stop money laundering, tax evasion and other illegal activities. While these regulations are necessary, cross- border banking has become more complicated and costly. This threatens the future of global and regional financial services groups. “The decline of global groups and correspondent banking services makes remittance of foreign earnings to families, access to export markets for small and medium enterprises and the provision of banking services to multi-national companies, significantly more difficult. “These regulations are also likely to result in fewer, larger domestic banks, as institutions struggle to meet regulatory requirements and maintain international correspondent banking relationships. This will reduce competition in local markets. “I am deeply humbled. These awards are a team effort and I dedicate it to my fellow 42,000 colleagues who, despite various economic factors, have continued to serve our customers and communities with both passion and dedication .”