The Absa Group announced on Friday the immediate resignation of Absa Bank executive director Israel Skosana.

Skosana had been a director of Absa Bank, the group's main operating subsidiary, since 2002.

Absa's Group chief executive Steve Booysen said: "It is with regret that I announce that Israel Skosana has decided to leave Absa to pursue alternative career opportunities.

"During his time with Absa, Israel has been passionate about the organisation and a good colleague at the Group Executive Committee (Exco). He has made a strong contribution to the success of the group to date."

SA COMPANIES & BUSINESS INFO Trying to find your way around South Africa's corporate landscape? Looking for a info on a particular company or sector? After the latest business, financial or market news? Here's a quick directory of links to get you started.

MORE BUSINESS NEWS Petrol price relief on the cards Lonmin soars on takeover talks Kumba operating margin jumps 31% Skosana leaves Absa Transnet restructuring talks fail Biggest listing ever for AltX Gautrain route finalised Electricity price hiked Solid results for Woolies Implats announces R4.3bn dividend Thumbs up for Manuel's 10th Budget Economists positive on Budget The Budget in brief White collar crime costs R80bn BHP Billiton profit jumps