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Barclays Bank shutting Africa operations
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Realtreaty
#21 Posted : Tuesday, March 01, 2016 9:21:25 AM
Rank: Elder

Joined: 8/16/2011
Posts: 2,388
Jitahidi wrote:
watesh wrote:
Mpenzi wrote:
ayushnehra wrote:
@sumuni It seems you need to be corrected here.. The title of this is so misleading. Let me explain it in simple terms so you don't spread this.

1) Barclays Bank Kenya is a subsidiary of Barclays Africa.

2) Barclays Africas Holdings are split i.e. (for the sake of understanding)
- Barclays Bank UK - 62 %
- Not Barclays Bank UK - 38%

3) Barclays Bank UK wants to sell it's 62% to a buyer. Just as you buy an sell shares( on a smaller scale if you do)

4) Operations will go on as per usual.

5) Markets will react that the UK brother is going away.. doesn't mean whoever buys that share may not do a better job.. Who Knows . That is the uncertainty and that is the beauty of Stock Markets. This decision may have been affected by wearing rand which has affected the listed value of Barclays Africa which is based ins South Africa.

6) Barclays Bank is not shutting operations. NOT BARCLAYS AFRICA AND NOT BARCLAYS KENYA.




Once Barclays sells its stake in Barclays Africa, the Barclays Africa and Barclays Kenya will have to change their names. It's as simple as that.

Not necessarily, if they agree with Barclays to keep the branding they can continue as normal just like Equity Group did with Procredit Congo, they didnt rebrand.
Braclays Kenya rebranding can choke the business short term since most clients love the prestige that comes with the name Barclays.

I doubt Barclays will allow use of their name (Barclays)by other parties as one of the reasons being highlighted is reputation risks in Africa (source: Smart company on DN today). My bet is a change of name is inevitable like Ken cell - Airtel - Bharti Airtel

smile smile All that is contained in the MOU during the merger and rules of Articles such that after dissolving wht really happens does not affect each prty negatively. The name is shared and Kenya and othe branches may still live under the shared Name like Barclays Kenya and not Barclays Internation or UK.smile
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Sir invest
#22 Posted : Tuesday, March 01, 2016 10:07:10 AM
Rank: Member

Joined: 8/19/2015
Posts: 125
Change of name will depend with the rating of the acquiring bank. For instance if its a bigger bank like ICBC which is buying, dont expect the name Barclays to remain.
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kollabo
#23 Posted : Tuesday, March 01, 2016 11:16:22 AM
Rank: Veteran

Joined: 2/3/2012
Posts: 1,317
Sir invest wrote:
Change of name will depend with the rating of the acquiring bank. For instance if its a bigger bank like ICBC which is buying, dont expect the name Barclays to remain.


Interesting you mention ICBC. Chinese bank most likely entrant.

Also one of the reasons they give is declining rand. They still seem to think that SA is Africa.
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Elephant Man
#24 Posted : Tuesday, March 01, 2016 12:09:08 PM
Rank: Member

Joined: 12/24/2008
Posts: 112
Barclays Africa FY 2015 results available on their website www.barclaysafrica.com
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wa P
#25 Posted : Tuesday, March 01, 2016 1:23:36 PM
Rank: Member

Joined: 5/26/2009
Posts: 326
Location: Nairobi
ayushnehra wrote:
@sumuni It seems you need to be corrected here.. The title of this is so misleading. Let me explain it in simple terms so you don't spread this.

1) Barclays Bank Kenya is a subsidiary of Barclays Africa.

2) Barclays Africas Holdings are split i.e. (for the sake of understanding)
- Barclays Bank UK - 62 %
- Not Barclays Bank UK - 38%

3) Barclays Bank UK wants to sell it's 62% to a buyer. Just as you buy an sell shares( on a smaller scale if you do)

4) Operations will go on as per usual.

5) Markets will react that the UK brother is going away.. doesn't mean whoever buys that share may not do a better job.. Who Knows . That is the uncertainty and that is the beauty of Stock Markets. This decision may have been affected by wearing rand which has affected the listed value of Barclays Africa which is based ins South Africa.

6) Barclays Bank is not shutting operations. NOT BARCLAYS AFRICA AND NOT BARCLAYS KENYA.




all that explanation in one phrase - Barclays is shutting down.
Breaking news....Kabura and NYS gang to buy the bank, rename it Backlane Bank!
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Pesa Nane
#26 Posted : Tuesday, March 01, 2016 1:50:32 PM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
From the horse's mouth

Pesa Nane plans to be shilingi when he grows up.
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Pesa Nane
#27 Posted : Tuesday, March 01, 2016 1:52:12 PM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
Continued.

Pesa Nane plans to be shilingi when he grows up.
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sparkly
#28 Posted : Tuesday, March 01, 2016 2:12:37 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
wa P wrote:
ayushnehra wrote:
@sumuni It seems you need to be corrected here.. The title of this is so misleading. Let me explain it in simple terms so you don't spread this.

1) Barclays Bank Kenya is a subsidiary of Barclays Africa.

2) Barclays Africas Holdings are split i.e. (for the sake of understanding)
- Barclays Bank UK - 62 %
- Not Barclays Bank UK - 38%

3) Barclays Bank UK wants to sell it's 62% to a buyer. Just as you buy an sell shares( on a smaller scale if you do)

4) Operations will go on as per usual.

5) Markets will react that the UK brother is going away.. doesn't mean whoever buys that share may not do a better job.. Who Knows . That is the uncertainty and that is the beauty of Stock Markets. This decision may have been affected by wearing rand which has affected the listed value of Barclays Africa which is based ins South Africa.

6) Barclays Bank is not shutting operations. NOT BARCLAYS AFRICA AND NOT BARCLAYS KENYA.




all that explanation in one phrase - Barclays is shutting down.
Breaking news....Kabura and NYS gang to buy the bank, rename it Backlane Bank!


Yes they are shutting down. Selling overseas assets to stave off losses at home.

The press releases are just to maintain confidence in the market and to avoid conflicts with various regulatory authorities in affected countries.
Life is short. Live passionately.
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mlennyma
#29 Posted : Tuesday, March 01, 2016 2:23:02 PM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
sparkly wrote:
wa P wrote:
ayushnehra wrote:
@sumuni It seems you need to be corrected here.. The title of this is so misleading. Let me explain it in simple terms so you don't spread this.

1) Barclays Bank Kenya is a subsidiary of Barclays Africa.

2) Barclays Africas Holdings are split i.e. (for the sake of understanding)
- Barclays Bank UK - 62 %
- Not Barclays Bank UK - 38%

3) Barclays Bank UK wants to sell it's 62% to a buyer. Just as you buy an sell shares( on a smaller scale if you do)

4) Operations will go on as per usual.

5) Markets will react that the UK brother is going away.. doesn't mean whoever buys that share may not do a better job.. Who Knows . That is the uncertainty and that is the beauty of Stock Markets. This decision may have been affected by wearing rand which has affected the listed value of Barclays Africa which is based ins South Africa.

6) Barclays Bank is not shutting operations. NOT BARCLAYS AFRICA AND NOT BARCLAYS KENYA.




all that explanation in one phrase - Barclays is shutting down.
Breaking news....Kabura and NYS gang to buy the bank, rename it Backlane Bank!


Yes they are shutting down. Selling overseas assets to stave off losses at home.

The press releases are just to maintain confidence in the market and to avoid conflicts with various regulatory authorities in affected countries.

I said they will lose business until the dust settles and here at home the share price is feeling the heat already
"Don't let the fear of losing be greater than the excitement of winning."
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kollabo
#30 Posted : Tuesday, March 01, 2016 2:35:42 PM
Rank: Veteran

Joined: 2/3/2012
Posts: 1,317
From the horses mouth:

Mr Staley said that the bank's decision on Africa, where it has had a presence for over a hundred years, had been "very difficult".

"The reality is, in this new regulatory environment, we carry 100% of the liabilities but we only own 62% of Barclays Africa.

"It truncated possible returns from investing in Africa."

Barclays has more than 12 million customers across 12 nations in Africa.

- BBC
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