African Bank Investments Limited - African Bank To
African Bank Investments Limited - African Bank To Extract Efficiencies From
Divisionalisation
African Bank Investments Limited
(Incorporated in the Republic of South Africa)
(Registration number 1946/021193/06)
(ISIN: ZAE000030060)
(Share code: ABL)
("Abil")
African Bank To Extract Efficiencies From Divisionalisation
As previously communicated to shareholders, Abil has initiated certain
strategies, including the integration of the Collections business, the
divisionalisation of the Specialised Lending operations, and the simplification
of business structures that will result in increased efficiencies across the
group.
In light of the above, Abil CEO Leon Kirkinis said today that it has now entered
a consultative process with a number of its business units to evaluate their
ongoing business requirements, which would have the effect of reducing staff
numbers. This process is likely to extend over the next 12 to 18 months.
Sandton
15 September 2003
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 16/09/2003 08:00:23 AM Produced by the JSE SENS Department
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