Maria Ramos - CEO, ABSA - Interim Results

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Uploaded by on Aug 3, 2009

South Africa's biggest retail bank Absa Group reported a 19 percent drop in first-half earnings after bad loans jumped as customers defaulted on everything from house bonds to cars. Headline earnings per share came in 564.4 cents, in line with its forecast of a 15 to 25 percent decline. Earnings were also hurt by writedowns on assets the lender was forced to buy after clients failed to pay for about a billion rand in futures contracts. ABN Digital spoke to ABSA CEO, Maria Ramos at the Sandton Convention Centre in Johannesburg.

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