November 13, 2019 / 6:57 PM / 23 days ago

UPDATE 1-S.Africa's Absa to appoint former c.bank deputy Mminele as CEO -media

(Adds Absa spokeswoman, background)

JOHANNESBURG, Nov 13 (Reuters) - Former South African Reserve Bank deputy governor Daniel Mminele will be appointed chief executive of Absa, the BusinessDay newspaper reported on Wednesday, citing anonymous sources.

Absa spokeswoman Phumza Macanda said the bank would not comment on speculation.

Mminele, who retired as second-in-command at the central bank in June after serving more than 10 years there, would be Absa’s first black chief executive if appointed.

Long-time Absa boss Maria Ramos, at the helm when UK-based Barclays exited an 11-year controlling stake in 2017, retired earlier this year, with the bank saying in August it had completed a selection process for a successor.

Absa has lost market share in the last decade, slipping to third largest in terms of assets, and also faces increasing competition from new digital players Discovery Bank and TymeBank.

The lender reported a 5% rise in first-half profit in August but a drop in its corporate and investment divisions. (Reporting by Emma Rumney; writing by Mfuneko Toyana; editing by Jason Neely and Alexandra Hudson)

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