Past and Present
At Absa Capital we believe that good is the enemy of great. We will never settle for second best. We constantly test the boundaries in search of ultimate greatness.
We have the ability to win the race time and again, but we will never become complacent because we constantly want to be better.
Also we never forget our roots. The nineties saw the formation of one of the largest retail banks in South Africa through the merger of a number of smaller banks. In 1997 the grouping became known as Absa Bank Ltd (Absa), and by the turn of the millennium Absa was one of the four largest banks in the country.
In 2005 international financial services group, Barclays PLC, acquired a 54% stake in Absa – worth R27,9bn. With the backing of Barclays, Absa Corporate and Merchant Bank (ACMB) was re-positioned to become a redefining force in the local investment banking arena. A year after the historic Barclays/Absa deal, Absa unveiled its new investment banking division: Absa Capital.
For the first time in this country, a local bank with full onshore capabilities could also help South African clients when they went offshore. Absa Capital was born to redefine the South African and Sub-Saharan Africa investment banking market.