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Absa Bank Ltd (ABSPp.J)

ABSPp.J on Johannesburg Stock Exchange

70,400.00ZAc
22 Sep 2017
Change (% chg)

446.00 (+0.64%)
Prev Close
69,954.00
Open
70,346.00
Day's High
70,400.00
Day's Low
70,346.00
Volume
1,226
Avg. Vol
6,058
52-wk High
83,000.00
52-wk Low
67,900.00

Latest Key Developments (Source: Significant Developments)

Absa Bank files supplementary affidavit to challenge public protector's report​
Thursday, 14 Sep 2017 09:36am EDT 

Sept 14 (Reuters) - ABSA BANK LTD ::‍ABSA FILES SUPPLEMENTARY AFFIDAVIT TO CHALLENGE PUBLIC PROTECTOR'S REPORT​.‍FILED SUPPLEMENTARY AFFIDAVIT TO HIGH COURT IN ITS CASE TO HAVE CERTAIN FINDINGS AND REMEDIAL ACTIONS OF PUBLIC PROTECTOR'S REPORT REVIEWED AND SET ASIDE​.REPORT DEALT WITH FINANCIAL ASSISTANCE PROVIDED BY SOUTH AFRICAN RESERVE BANK (SARB) TO BANKORP, WHICH ABSA LATER BOUGHT.  Full Article

Absa Bank says half-year diluted HEPS at 109.4 cents
Friday, 28 Jul 2017 01:48am EDT 

July 28 (Reuters) - Absa Bank Ltd ::Based on current requirements of basel iii, expected increase in accounting impairment provision would reduce common equity tier 1 (cet1) capital.Hy revenue 24,806 million rand versus 24,467 million rand.Diluted headline earnings per ordinary share 109,4 cents versus 123,2 cents.  Full Article

Absa Bank launches high court application to review, set aside public protector’s report
Thursday, 13 Jul 2017 12:09pm EDT 

July 13 (Reuters) - Absa Bank Ltd :Absa launches high court application to review and set aside public protector’s report.Issued its application to high court for review and setting aside of findings and remedial action of the public protector’s report.Refers to public protector’s report on financial assistance provided by South African Reserve Bank to Bankorp, which was later bought by Absa‍​.Absa is challenging the public protector’s report on debt that is alleged to be due had prescribed and is therefore not recoverable.Absa is challenging the public protector’s report on public protector has no jurisdiction to investigate the matter.Absa is challenging the public protector’s report on debt that is alleged to be due had prescribed and is therefore not recoverable.Absa is challenging the public protector’s report on public protector’s process was procedurally flawed and unfair to Absa.Absa is challenging public protector’s report on report’s findings and remedial action based on material errors of fact.  Full Article

Absa Bank to approach High Court to have public protector report reviewed
Friday, 30 Jun 2017 08:55am EDT 

June 30 (Reuters) - Absa Bank Ltd ::Decided to approach the high court in order to have the report of the public protector that was released on Monday 19 June 2017 reviewed and set aside.Says the decision is due to the numerous misrepresentations and factual inaccuracies which are used as the basis for its findings.Respects constitutional institutions and has cooperated with office of public protector during the course of this investigation.Report leaves Absa with no choice but to seek recourse in courts as provided for by the constitution when affected party disagrees with the findings of public protector."office of the public protector appears to have either effectively ignored or misunderstood Absa’S detailed submissions, which were made to it on two occasions".  Full Article

Absa says public protector's recommended amendments pose risk to financial system
Wednesday, 21 Jun 2017 01:57am EDT 

June 21 (Reuters) - Absa Bank Ltd ::Advised that "public protector act does not empower public protector to direct that constitutional amendments be made"."Recommended amendments pose a very serious risk to financial system and they cannot be allowed to stand".Public protector's remedial actions include directive to parliament to amend constitution in order to change mandate of S.A. Reserve bank.  Full Article

Absa to approach high court to review public protector's report
Wednesday, 21 Jun 2017 01:05am EDT 

June 21 (Reuters) - Absa Bank Ltd ::Public protector released report on Monday on investigation into assistance provided by South African Reserve Bank to Bankorp between 1985-1995.Absa has decided to approach high court in order to have report reviewed and set aside.Barclays Africa, Absa Bank shareholders are advised Absa has decided to approach high court in order to have report reviewed and set aside.Have instructed lawyers to immediately prepare an application to high court to have report and its remedial actions set aside.Deny that Absa received 1,125 billion rand by way of unlawful assistance.  Full Article

ABSA Bank says met all obligations in S.Africa reserve bank loan
Monday, 19 Jun 2017 11:05am EDT 

June 19 (Reuters) - ABSA Bank Ltd ::Received public protector's report on her investigation into SA Reserve Bank's assistance to Bankorp between 1985 and 1995.Currently studying report and will consider our legal options including seeking a high court review.Met all its obligations in respect of loan provided by SA Reserve Bank by October 1995.No obligation to pay anything to SA government.  Full Article

ABSA Bank responds to public protector's press conference
Monday, 19 Jun 2017 08:03am EDT 

June 19 (Reuters) - ABSA Bank Ltd : :Statement in response to public protector’s press conference.Have not yet received copy of report of public protector’s statement; will consider legal options including seeking a high court review."Findings in the provisional report are legally and factually flawed and inaccurate".ABSA bank says "firm position that there is no obligation to pay anything to the SA government".  Full Article

ABSA Bank says Barclays' stake sale in African unit approved by S.Africa's Minister of Finance
Wednesday, 31 May 2017 09:15am EDT 

May 31 (Reuters) - ABSA Bank Ltd ::Barclays Plc / Barclays Africa Separation: Regulatory Approval And Cautionary Announcement.Barclays and BAGL have now received required regulatory approval from minister of finance in South Africa for sell-down.BAGL shareholders are advised to exercise caution until a further announcement is made.  Full Article

Absa Bank comments on hiked dividend withholding tax
Friday, 24 Feb 2017 08:35am EST 

Absa Bank Ltd :Dividend announced on Feb. 23 will now be subject to dividends withholding tax at a rate of 20 pct, up from 15 pct.  Full Article

BRIEF-Absa Bank files supplementary affidavit to challenge public protector's report​

* ‍ABSA FILES SUPPLEMENTARY AFFIDAVIT TO CHALLENGE PUBLIC PROTECTOR'S REPORT​

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