Absa earnings expected to drop 97% & they blame COVID despite being serial underperformers

Messy Barclays separation, massive costs of rebranding, grossly overpaid execs, endless red tape, absent digital innovation, bad credit management & a completely rudderless investment bank

Zero sympathy for the Absa meltdown. Mario Ramos consistently pulled R30m a year for being the worst performing bank in SA.

Culture of overpaying mediocrity always been entrenched in Absa, since years ago.

Peter Matlare (yes, the ex Tiger Brands CEO who failed in Nigeria).

Congrats Absa, you tick this box https://twitter.com/iamkoshiek/status/1257822711440605184?s=19

Another example of the blaming COVID https://twitter.com/iamkoshiek/status/1272454296504872963?s=19

Absa stock is DOWN 55% over the last 5 years... yet people are getting paid massive racks in C-suite. If you're a shareholder, you're complicit. https://twitter.com/iamkoshiek/status/1247105203914113024?s=19