Market Wrap - Stock Pick - Absa Group Limited
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Imtiaz Suliman from Sentio Capital chose Absa Group Limited as his stock pick of the day
"I choose Absa and it's largely based on them opening their taps now as they are trying to grow their book. They were constrained with the Barclays relationship where risk was dialed down. Now they have the freedom to to write risk on their own without the Barclays oversight which will give them much better growth in terms of loans and compete on an even footing with the other banks. They've lost a lot of market share over the last few years and they've been easy picking for the other banks but I think that their losses are stemmed to some extent and at these
levels it's offering good value"
"I choose Absa and it's largely based on them opening their taps now as they are trying to grow their book. They were constrained with the Barclays relationship where risk was dialed down. Now they have the freedom to to write risk on their own without the Barclays oversight which will give them much better growth in terms of loans and compete on an even footing with the other banks. They've lost a lot of market share over the last few years and they've been easy picking for the other banks but I think that their losses are stemmed to some extent and at these
levels it's offering good value"
