The process of separating from Barclays is now 99% completeThe separation began in 2017 when Barclays reduced its exposure in Absa to 14.9%. Barclays contributed R12.6 billion in 2017 towards the separation programme, which enabled Absa to finance the migration of its IT systems and brand projects to SA. The group said the separation occurred within budget, and it will be capital and cash flow neutral. He said before Covid-19, Absa's ability to determine its own destiny was bearing fruits as the group clawed back previously lost market share. It included 276 separate projects, of which 270 are now complete.

Source: News 24 June 08, 2020 14:26 UTC