Absa's Ramos to retire

Absa's outgoing CEO, Maria Ramos

"Maria has been group chief executive for 10 years and has led the group through significant milestones, including the aftermath of the global financial crisis and acquiring the Barclays Africa subsidiary banks in 2013. She had indicated a desire to step down earlier, but agreed to see the group through the separation negotiations with Barclays, the ensuing sell-down and key separation milestones," the statement said.

René van Wyk will step into the role of interim chief executive from March 1. With the separation from Barclays on track “and our new strategy as a financial institution in place, Maria feels that this is the right time to retire".

Van Wyk has been a non-executive director on the Absa board since February 2017. He was previously the registrar of banks within the South African Reserve Bank and retired from that position in May 2016.