Absa: Branches to get R1.2bn upgrade

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Absa planned to spend R1.2 billion over the next three years on refurbishing its branch network in South Africa, its head of retail and business banking said yesterday. The bank, which still trades as Absa in South Africa but was renamed Barclays Africa Group elsewhere, was trying to win back lower-income clients lost to Capitec Bank and business clients taken by Standard Bank, Craig Bond said. “We lost a lot of customers to Capitec. We were very conservative on personal loans,” he said. It plans to win back retail customers by upgrading branches and rejigging its network. – Reuters

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