The Barclays Africa Group is to rebrand to Absa Group by 2020, subject to receiving the appropriate regulatory and shareholder approval in all their operating countries. The Barclays PLC has since December 2017, reduced its stake in the Africa Operations from 62 to 15 per cent. Madam Maria Ramos, the Chief Executive Officer of Barclays … Read more
Barclays and four former executives have been charged with fraud over their actions in the 2008 financial crisis. The Serious Fraud Office case relates to the way the bank raised billion of pounds from Qatari investors enabling it to avoid a government bailout. Former chief executive John Varley is one of the four ex-staff who will … Read more
Former Barclays chief executive John Varley quit as a director of mining giant Rio Tinto on Wednesday after being charged with conspiracy to commit fraud in Britain. He was among four senior executives from the bank charged on Tuesday by Britain’s Serious Fraud Office (SFO) following a five-year investigation over emergency fundraising worth billions of … Read more
British banking giant Barclays said Thursday it has further reduced its stake in its South African operations as part of a global strategic re-think unveiled last year. Barclays said in a statement that it had placed a stake of 33.7 percent in Barclays Africa with institutional investors, raising some £2.224 billion (2.5 billion euros, $2.9 … Read more
Barclays PLC has announced its intention to sell 187 million ordinary shares in Barclays Africa Group, which represents approximately 22% of Barclays Africa’s issued share capital. This follows receipt of the required regulatory approvals, including approval from the South African Minister of Finance, for Barclays PLC to reduce its shareholding in Barclays Africa to below … Read more
Barclays Africa says the decision by Barclays UK to exit from the region will not affect its operations in Ghana and others on the continent. The assurance follows fears that the sell down of Barclays PLC shares in Barclays Africa, which owns Barclays Ghana and others in nine countries could affect its operations in the … Read more
Barclays says its profits more than doubled in the first three months of the year, boosted by better performance across the board. Pre-tax profit for the first quarter was £1.682bn, up from £793m for the same period last year. Chief executive Jes Staley said it had been “another quarter of strong progress towards the completion … Read more
British bank Barclays, whose chief executive faces a regulatory probe, said Friday that first-quarter net profits sank by more than half on a large impairment at its Africa division. Profit after taxation dived to £190 million ($245 million, 225 million euros) in the first three months of 2017 after taking a vast £884-million charge on … Read more
Jes Staley, the chief executive of Barclays, will lose his annual bonus after two regulators opened an investigation into his conduct in a whistleblowing case. He had tried to discover who wrote a whistle blowing letter to the bank. The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) will investigate his conduct. Barclays … Read more
Barclays PLC is to disinvest its controlling interest in the Barclays Africa Group after four years of joining hands with ABSA Group to form one of the most respected financial institutions in the continent. In what could best qualify for a divorce note, Barclays PLC, a UK-based financier, announced on February 23 that it had … Read more
Barclays will this week announce the appointment of Sir Ian Cheshire as chairman of its UK-based operations, a key milestone in its planning for new rules aimed at protecting taxpayers in a future banking crisis. Sky News has learnt that Sir Ian’s application to chair Barclays UK has been approved by the Prudential Regulation Authority … Read more
A banking and finance expert, Dr. Laud Mensah has allayed fears the pulling out of Barclays PLC from Africa could trickle down to other banks. Barclays Africa Group agreed to terms for operational separation with UK-based Barclays PLC, which is reducing its shareholding in Barclays Africa. The agreement is however expected to unlock opportunities for … Read more
A banking and finance expert, Dr. Laud Mensah has allayed fears the pulling out of Barclays PLC from Africa could trickle down to other banks. Barclays Africa Group agreed to terms for operational separation with UK-based Barclays PLC, which is reducing its shareholding in Barclays Africa. The agreement is however expected to unlock opportunities for … Read more
Barclays PLC has submitted an application to the South African Reserve Bank for approval to reduce its stake in Barclays Africa to below fifty percent. The application will require the approval of South Africa’s Minister of Finance. Already Barclays PLC has agreed to pay 765 million pounds to Barclays Africa for it to split from … Read more
Barclays has reached agreement with its African subsidiary about the details of their divorce, a key step before the British bank can sell more shares in its Johannesburg-listed offshoot. Two people briefed on the matter said Barclays and its South African subsidiary were awaiting approval for the agreement from local regulators. Analysts have estimated that … Read more
London can breathe easy – it will continue to be the financial lungs of Europe, according to Barclays chief executive Jes Staley. While he admits the bank may have to move some activities to bases in Dublin or Germany, he believes that most of their European banking business can continue to be done from the … Read more
An Accra Circuit Court on Friday granted bail to, a 38 year-old banker Kwabena Adu Gyamfi after he was arraigned for stealing. He was said to have stolen an amount of GHC11,000.00 from an account at Barclays Bank Oda branch, belonging to the estate of the deceased Nana Adu Gyamfi Kumaning III. He pleaded not … Read more
The US Department of Justice is suing Barclays for alleged mortgage securities fraud. It claims that Barclays misled investors about the quality of loans backing securities in the run-up to the financial crisis. Barclays rejected the claims, saying they were “disconnected from the facts”. The banking giant is among a number of European banks that … Read more