There has been a lot of doubt over various competitions' sponsor renewals in recent weeks, with some claiming the League were being too greedy in their asking price.
But after confirming the renewal of MTN as the title sponsors of the Top 8 last week, the deal between the PSL and banking giants has been ironed out too.
"The Absa Premiership is one of the best-known and most popular sporting properties in Africa and provides excellent support for our business and marketing strategies. We are delighted to extend the connection of the Absa brand with the Premiership and its passionate supporters across South Africa," Absa Head of Marketing Sizakele Marutlulle says.
Absa first secured the title sponsorship rights to the Premiership in 2007.