Maria Ramos, the Chief Executive Officer of ABSA has decided to forgo her bonus at the company this year after the company reported disappointing results.

"What matters is we have to do the right thing. Last year's results are what they are. I am not happy with them and the shareholders are not happy with them," she said.

The company said that its earnings per share fell 9 per cent in the entire year till December, 2012. The fall was mainly due to impairments in its home loan and commercial property finance book. Meanwhile, the bonus payments at the company fell 23 per cent in the year till December, 2012 to R985m from more than R1bn in 2011 a year earlier.

She said that the impairments on loans have affected the company. The home loan deals were signed between 2006 and 2008 with the customers. She did not reveal if other senior executives would also forgo their bonuses this year. She said that she is satisfied that her leadership team includes people who hold themselves accountable.

Earlier in the year, Antony Jenkins, CEO of Absa's parent company Barclays has said that he would forgo his bonus in the year because the group has faced a difficult year.