"Absa demonstrated resilience in a challenging operating environment of slow economic recovery and muted credit demand during 2010. Despite modest revenue growth, the Group increased its headline earnings by 6% to R8 billion, as impairments improved from unusually high levels. It was also gratifying that Absa kept its return on equity above its cost of equity, while maintaining capital comfortably above board targets and regulatory requirements."
Garth Griffin, Group Chairman
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