Barclays Bank not shutting down says MD

By Beth Nyaga

Barclays Bank of Kenya is not shutting down.

This is according to Jeremy Awori Managing Director who says that its operations will not be affected despite the announcement that its majority shareholder Barclays PLC plans to exit Africa.

Awori says the bank will remain committed to their customers urging them to continue doing business with them.

Barclays Africa Group Limited (BAGL), which owns 62.3% of Barclays Africa, Sunday said it continues to evaluate its strategic options in relation to its shareholding in Barclays Africa Group Limited.

BAGL also expects to update the market at the time of its 2015 full-year results announcement on 1 March.

Barclays Africa is an independently-listed entity on the Johannesburg Stock Exchange, regulated by the South African Reserve Bank.

Maria Ramos, Barclays Africa Group Chief Executive says: “We continue to offer a full and integrated range of products and services to more than 12 million customers in 12 countries across Africa and our customers can be just as confident doing business with us as they have always been. With an independent board and a separate listing on the Johannesburg Stock Exchange we are deeply rooted in Africa and remain firmly in control of our future.”

In 2013, Barclays Africa was established as a leading African bank when 12 banks across the continent were brought together.

“In doing so, we put the future of this organisation firmly in our own hands,” Ms Ramos said.

Barclays Africa Group Limited is the majority (in some cases sole) shareholder of the BAGL operations in South Africa, Kenya, Botswana, Ghana, Zambia, Mauritius, Mozambique, Seychelles, Uganda and Tanzania (Barclays Bank Tanzania Limited and National Bank of Commerce Limited).

“We continue to be optimistic about our prospects in Africa, where we have a strong franchise with assets of over R1 trillion. We are deeply committed to the success of our continent. Our destiny is in Africa,” Ms Ramos says.

Barclays PLC and Barclays Africa Group Limited will announce their 2015 financial results Monday.

 

  

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