Customers and Shareholders of Barclays Bank Ghana will tomorrow know whether Barclays Bank P.L.C is indeed be moving out of Africa.

The Bank in a statement issued Monday noted that it plans to state its position on March 1 to the investing public.  

Barclay’s Bank P.L.C According to the bank it is evaluating its strategic options in relation to its 62.3 percent shareholding in Barclay’s Bank Africa, and expects to update the market, when it announces its financial results for 2015 tomorrow.  

It has been rumoured by some international financial press that, Barclays Bank was working move out of Africa, because of the current unfavourable market conditions.

In the same statement, Barclays Africa which is the direct parent company of Barclays Ghana, has also reiterated its commitment to staying in Africa saying, “we continue to be optimistic about our growth prospects, and operate their normal course of business”.

Officials of Barclay’s Bank, Ghana have also told, JOY BUSINESS, irrespective of the action by Barclays  Bank P.L.C , will not affect none of its activities in Ghana, it is therefore assuring depositors, their funds are safe.

 

Below is a full statement by Barclay’s Bank through its subsidiary Barclays Africa

Barclays Africa Group remains committed to Africa

Barclays Africa Group Limited (BAGL) wishes to reiterate that we remain committed to Africa, where we continue to be optimistic about our growth prospects, and  to operate in the normal course of business.

UK-based Barclays PLC, which owns 62.3% of Barclays Africa, yesterday said it continues to evaluate its strategic options in relation to its shareholding in Barclays Africa Group Limited and 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 and we are well capitalised with a track record of strong returns.

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 today 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). Any announcement relating to Barclays PLC’s shareholding in BAGL does not impact the shareholding and ownership of these operations.

“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 tomorrow.