Absa, majority-owned by Barclays, has won two awards for its corporate reputation.
It was named by the Reputation Institute, a global research and consulting organisation, as having the best reputation among financial services providers in South Africa and won the Business Segment Award in the Mail & Guardian newspaper’s Top Companies Reputation Index.
Happy Ntshingila, Absa Group Chief Marketing and Communication Officer, said: “In an environment where clients and the public increasingly choose their financial services providers according to their reputation, this is a big win for us in setting ourselves apart from our competitors.
“It is a tribute to the manner in which every colleague in our organisation conducts themselves and their understanding that everyone plays a role in building and upholding our organisation’s reputation.”
Best reputation among South African financial services providers
Absa was named by the Reputation Institute, a global research and consulting organisation, as having the best reputation among financial services provides in South Africa, beating competitors such as Standard Bank, Nedbank and FNB.
Absa was also ranked second among all South African companies, with telecommunications company MTN taking first place.
Dominik Heil, Reputation Institute Managing Director, said Absa had done a number of positive things that bolstered its reputation over the past 12 months: “The score depicts an emotional connection that the general public has with Absa.
“Our research has shown that it is this emotional connection that determines people’s propensity to display supportive behaviour towards an organisation, such as buying its products and services, seeking employment, investing in and making positive comments about the organisation.”
Dominik added: “Over the years, research has shown that in South Africa, the key determinants of corporate reputation are perceptions about the products and services the company offers, its leadership and in this context particularly the reputation of the Chief Executive and financial performance.
“Absa has scored consistently well in all these areas.”
Business Segment Award from South Africa’s Mail & Guardian newspaper
Absa also won the Business Segment Award in the Mail & Guardian newspaper’s Top Companies Reputation Index.
The accolade recognises companies that have effectively implemented recommendations on corporate governance from South Africa’s King Report and 2008 Companies Act.
Consulting company Plus 94 Research conducted the ranking on behalf of the South African newspaper and said Absa had the best workplace environment and corporate social responsibility projects.