The Deputy CEO and Group Financial Director of Barclays Africa, David Hodnett, has downplayed any significant impact the exit of Barclays Bank Plc will have on the bank\u2019s Africa operations.<\/p>\n
[contextly_sidebar id=”GHF6TAwnOCUOuvmtAxy3VXjfZxzBatMR”]It follows concerns that the exit of Barclays Bank Plc will have a toll on the financial strength and operations of Barclays Africa since it owes majority of shares.<\/p>\n
Barclays Plc in February this year announced its decision to withdraw its 62.3 percent share in the Bank\u2019s Africa operations.<\/p>\n
The move was among other things influenced by some regulatory burdens specific and particular to Barclays PLC as a UK headquartered and globally significant financial institution.<\/p>\n
The regulations reportedly, decreased significantly, Barclay\u2019s Africa Group Limited\u2019s standalone returns for Barclays PLC.<\/p>\n
But speaking in an exclusive interview with Citi Business News<\/strong>, David Hodnett reiterated that Barclays Africa still has the capacity to operate to meet the demands of its clients despite the exit.<\/p>\n \u201cThis will have zero impact … and we are looking at coming out to roll out our internal banc assurance operations. Our retailing business in banking operations is very limited and as individuals, you look at the kind of branches and technology you roll out like ATMs and obviously they ought to be better \u2026 Barclays still needs to operate in Africa, the customers are still going to operate in Africa, so it will make perfect sense for us that Barclays continues.\u201d He stated.<\/p>\n The Bank’s CEO, Jes Staley confirmed the decision to pull out, to CNBC in February this year.<\/p>\n At the time of\u00a0announcing this decision, the bank’s\u00a0shares in \u00a0Barclays Africa, which is based in South Africa and also operates in nine other countries, dropped to 5.5 percent down from the 6.8 percent drop it had recorded the\u00a0day before.<\/p>\n The development caused a stir among some customers of the bank as speculation were rife over a possible take-over.<\/p>\n But a\u00a0statement signed by the bank\u2019s Africa Group Chief Executive, Maria Ramos said, “Any announcement relating to Barclays PLC\u2019s shareholding in Barclays Africa, does not impact the shareholding and ownership of these operations.”<\/p>\n –<\/p>\n By: Pius Amihere Eduku\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":" The Deputy CEO and Group Financial Director of Barclays Africa, David Hodnett, has downplayed any significant impact the exit of Barclays Bank Plc will have on the bank\u2019s Africa operations. [contextly_sidebar id=”GHF6TAwnOCUOuvmtAxy3VXjfZxzBatMR”]It follows concerns that the exit of Barclays Bank Plc will have a toll on the financial strength and operations of Barclays Africa since […]<\/p>\n","protected":false},"author":14,"featured_media":206536,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[121,32,11],"tags":[],"yoast_head":"\n