Maria Ramos, Chief Executive at Barclays Africa told The Money Show's, Bruce Whitfield that the board at Barclays Africa has written to audit firm KPMG and are awaiting results of an investigation into the claims that KPMG is involved in state capture.
On Friday, Absa also released its financial results.
It has been a challenging twelve months but i also think we have a lot to celebrate as today's results show.— Maria Ramos, Chief Executive at Barclays Africa
This is the first set of results that we have published post the sell-down by Barclays which happened faster than we anticipated. The sell-down was very successful and i think we should also take that as a sign of confidence into business.— Maria Ramos, Chief Executive at Barclays Africa
As our results today show, our businesses in the balance of the continent have done really well says Ramos.
She adds that in their corporate bank business in South Africa, good growth can be seen as well as in the credit card business. Ramos also believes they have grown strongly in the vehicle asset finance business, particularly in the second hand car market.
Ramos explains that to restore business and consumer confidence in South Africa, state capture and corruption need to be tackled head on.
We have to deal with them with honesty and integrity. We have to restore people's confidence that, where wrong doing has been done, perpetrators will be dealt with irrespective of which positions they hold.— Maria Ramos, Chief Executive at Barclays Africa
It's a long road back to growth. It's relatively easy to destroy institutions, to rebuild them is really hard. We need to be unapologetic about dealing with corruption and state capture.— Maria Ramos, Chief Executive at Barclays Africa
Listen here to the full interview: