Absa Group Appoints Punki Modise as Interim Group Financial Director

• Ms Punki Modise CA (SA), appointed Interim Absa Group Chief Financial Officer
• She becomes an executive director on the boards of both Absa Group and Absa Bank
• A seasoned banker, Modise has served Absa as CFO: Retail and Business Bank, Head: Transactional Banking, CFO: Distribution Channels and CFO: Card and Consumer Finance
• She spearheaded Absa’s R9.8 billion comprehensive Covid Payment Relief Programme

Absa Group Limited has appointed Punki Modise as interim Financial Director of Absa Group and Absa Bank, respectively. As such, she becomes an executive director on the boards of Absa Group and Absa Bank with immediate effect, subject to regulatory approvals. The announcement follows the appointment of Jason Quinn as interim Group Chief Executive on 20 April 2021.

Punki is a highly skilled banking and financial management leader with years of experience at Absa and across the financial services sector. Having joined Absa in 2008, she has played an instrumental role in leading Absa through its key strategic journeys, most notably the reset of the strategy of our largest business, RBB South Africa, in 2018, which has since demonstrated a sustained improvement in underlying momentum. She also successfully steered RBB South Africa through the pandemic and initial lockdown by leading a multidisciplinary team of experts who delivered the most comprehensive Covid-19 payment relief programme, with the highest take-up in the industry,” said Quinn.

As RBB CFO, Modise also played a shaping role in the development and execution of the current RBB strategy, launched in 2018, which has stemmed the 10-year overall business losses.

“Having worked closely with Punki over many years, I have first-hand experience of her outstanding strategic management skills, trademark enthusiasm and efficiency. I look forward to the positive contribution she will make,” said Quinn.

Her previous roles include: Head: Transactional Banking, Chief of Staff: Retail Banking, and Chief Financial Officer: Distribution Channels. Prior to joining Absa, she held positions at Standard Bank and Fedsure, having completed her articles at PricewaterhouseCoopers Inc.

Modise holds a BCom degree from the University of the Witwatersrand, as well as a Masters Degree in Financial Management from the University of Johannesburg. She is a qualified Chartered Accountant of South Africa.