South Africa’s Absa to Open New York Office by End of the Year

South African lender Absa said on Monday its representative office in New York should be operational by the end of the year, after it received the necessary regulatory approvals.

absa bank opening branch in new york
A branch of Barclay’s South African subsidiary Absa bank in Cape Town is shown in this picture taken March 1, 2016. REUTERS/Mike Hutchings

The office is aimed at enabling Absa to better serve clients, including international corporations and institutions, that invest or work in Africa. The bank has already opened a representative office in London and is looking at other locations, including in Asia.

(Reporting by Emma Rumney; Editing by Alex Richardson)