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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: 2,296
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
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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
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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
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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
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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
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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: 6,183
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
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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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Emerger
#31 Posted : Tuesday, March 01, 2016 4:09:50 PM
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Joined: 12/1/2014
Posts: 45
Location: Nairobi
kollabo wrote:
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


This is not an exit per se but more of a "diverstiture" where Barclays plc want to reduce its controlling
stake in Barclays Africa.
The stake at sale will definitely have ready buyers with PIC SA said to have shown interest already among others.
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sitaki.kujulikana
#32 Posted : Tuesday, March 01, 2016 4:31:33 PM
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Joined: 8/25/2012
Posts: 1,826
guys are funny, now its all guns blazing to correct the pr disaster, but with the majority shareholder exiting (or what they are calling reducing) their role, it means somethings will change, what will change we can only wait but definitely somethings will change. The question is will people wait for 2, 3 years to see that change.
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Gadaffi
#33 Posted : Tuesday, March 01, 2016 9:17:33 PM
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Joined: 2/13/2011
Posts: 284
Location: Nairobi
The big question should be who will be buying the reducted share; is it from the gulf, Chinese, ABSA, or a fund of interested parties. We already know the seller. The buyer will shape the future of the bank.
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Vallerrie
#34 Posted : Thursday, March 03, 2016 10:06:01 AM
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Joined: 11/1/2012
Posts: 290
I just came in to say their new MD is HOT!
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enyands
#35 Posted : Thursday, March 03, 2016 10:13:05 AM
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Joined: 12/25/2014
Posts: 2,300
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Vallerrie wrote:
I just came in to say their new MD is HOT!



Kwasababu ni brownie ?? Isorait Laughing out loudly
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Intelligentsia
#36 Posted : Thursday, March 03, 2016 12:16:21 PM
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Joined: 10/1/2009
Posts: 2,436
Gadaffi wrote:
The big question should be who will be buying the reducted share; is it from the gulf, Chinese, ABSA, or a fund of interested parties. We already know the seller. The buyer will shape the future of the bank.


Kama KCB:
http://www.standardmedia...uying-stake-in-barclays

BTW am really impressed the way the big 3 indigenous banks (KCB, Equity & Co-op) have ran out the foreign banks off the top echelons of the banking industry, including akina StanChart. And it should have been so from a long time - after all locals understand their fellow locals and local terrain better.


BTW, this talk of Barclays exit is not surfacing just now - it had initially bubbled to the surface in circa 2005 but went forgotten thereafter.

Methinks this is why their former MD for East and West Africa (now current Industrialization CS) really tried to exit the corporate scene, first by aggressively trying to go for KRA top honcho's job (he lost to J.Njiraini) before succeeding to join gava in 2013?
Or he just wanted to taste power, now that he had all the monies he needed.
At any rate, he knew the Barclay's divorce would crystallize one day.
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streetwise
#37 Posted : Thursday, March 03, 2016 12:58:27 PM
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Joined: 6/23/2011
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Location: Nairobi
From the quality of service these guys were due for an upgrade. I hope the new owners will take note of this very important aspect for continuity
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Vallerrie
#38 Posted : Thursday, March 03, 2016 1:11:57 PM
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Posts: 290
enyands wrote:
Vallerrie wrote:
I just came in to say their new MD is HOT!



Kwasababu ni brownie ?? Isorait Laughing out loudly


Plus height! Drool I approve 100%
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streetwise
#39 Posted : Thursday, March 03, 2016 2:12:19 PM
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Joined: 6/23/2011
Posts: 1,740
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Don't mix issue of emotion with Financial matters. They don't work together just like mixing water and oil.
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bartum
#40 Posted : Thursday, March 03, 2016 4:48:45 PM
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Joined: 8/11/2010
Posts: 1,011
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Vallerrie wrote:
enyands wrote:
Vallerrie wrote:
I just came in to say their new MD is HOT!



Kwasababu ni brownie ?? Isorait Laughing out loudly


Plus height! Drool I approve 100%

Invest with your hearth
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