Private company

ABSA Group Limited

Logo: Absa Group Limited, Public domain, via Wikimedia Commons4

South African banking conglomerate

Absa Group Limited, commonly known and stylized simply as absa (formerly the Amalgamated Banks of South Africa (ABSA) until 2005 and Barclays Africa Group Limited until 2018), is a multinational banking and financial services conglomerate based in Johannesburg, South Africa and listed on the Johannesburg Stock Exchange. It offers personal and business banking, credit cards, corporate and investment banking, wealth and investment management and bank assurances.3 From Wikipedia, CC BY-SA 4.0

Last updated Oct 16, 2026.

Overview

Apr 1991Founded1
  • Tickeron Johannesburg Stock Exchange1
  • Industryfinancial services1
  • HeadquartersJohannesburg1
  • Websitewww.absa.africa
  • Business addressAbsa Towers North, 180 Commission Street, Johanesburg 2001 Sou, T3 000005

See how the biggest companies compare on our leaderboards

Absa Group Limited, commonly known and stylized simply as absa (formerly the Amalgamated Banks of South Africa (ABSA) until 2005 and Barclays Africa Group Limited until 2018), is a multinational banking and financial services conglomerate based in Johannesburg, South Africa and listed on the Johannesburg Stock Exchange. It offers personal and business banking, credit cards, corporate and investment banking, wealth and investment management and bank assurances.3

How it started

Formation of ABSA and Barclays Africa Group Limited (1991–2017)

Absa Group began with the incorporation Amalgamated Banks of South Africa (ABSA) Limited in 1986 from a merger of the United Building Society Holdings South Africa, Allied Bank South Africa, Volkskas Bank Group and certain interests of the Sage Group. In 1992, ABSA acquired the entire shareholding of the Bankorp Group (which included TrustBank, Senbank and Bankfin). In 1997, ABSA changed the name of the holding company to ABSA Group Limited and adopted a new corporate identity. It consisted of four main operating divisions, whose brands; "United", "Volkskas", "Allied" and "TrustBank" brands were retired the following year in favor of the ABSA brand.

In May 2005, Barclays of the United Kingdom purchased 56.4 percent stake in Absa, which was criticized by the then-governor of the South African Reserve Bank, Tito Mboweni, who said he "had yet to see the benefits of Barclays' management of Absa". With the acquisition, Absa Group Limited was rebranded as Barclays Africa Group Limited.

eBank charges (2005-2012)

Finweek Bank Charges Reports from 2008 through 2010 found Barclays Africa Group Holdings Limited to be the most expensive bank in South Africa. Pay-as-you-transact (PAYT) fees increased 82 percent from 2005 to 2010. The 2012, Finweek Bank Charges Report ranked Absa's Gold Value Bundle as the cheapest package option amongst the four banks that were compared. The report has also shown Absa's PAYT pricing structure to have reduced by 25 percent by 2013, leaving it third cheapest in the overall ranking at that time.

In 2013, the group acquired the entire issued share capital of Barclays Africa Limited and issued 129,540,636 consideration shares to Barclays Africa Group Holdings Limited (a wholly owned subsidiary of Barclays) thus increasing the shareholding of Barclays plc to 62.3 percent. The Consideration Shares were listed on the JSE from the commencement of trading on 31 July 2013. The name change from "Absa Group Limited" to "Barclays Africa Group Limited" was completed in August 2013.

From Wikipedia’s article on ABSA Group Limited, shared under CC BY-SA 4.0.3

Timeline

  1. Apr 1991Founded Founded1

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5