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Barclays sells custodial to SCB
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sparkly
#1 Posted : Wednesday, April 28, 2010 6:27:24 AM
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Joined: 9/23/2009
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Location: Enk are Nyirobi
BBK has sold off its custodial and securities business to SCB.

Custodial and securities business in Kenya was profitable but BBK sold the business to comply with the strategy of Barclays PLC which has been diversting from custody and securities.

BBK has advised investors to exercise caution when dealing whith the shares.

Is there likely to be any material impact on the BBK share price?
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VituVingiSana
#2 Posted : Wednesday, April 28, 2010 9:24:58 AM
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No
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Scubidu
#3 Posted : Wednesday, April 28, 2010 10:42:00 AM
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@sparkly. Is this a Kenyan thing or a strategy for all of Barclays operations in Africa?
“We are the middle children of history man, no purpose or place. We have no great war, no great depression. Our great war is a spiritual war, our great depression is our lives!" – Tyler Durden
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sparkly
#4 Posted : Wednesday, April 28, 2010 2:26:47 PM
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Joined: 9/23/2009
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Location: Enk are Nyirobi
Scubidu wrote:
@sparkly. Is this a Kenyan thing or a strategy for all of Barclays operations in Africa?


Applies to worldwide operations. They have already divested in the Europe, America etc and the African subsidiaries are the last to sell off their custodial and securities businesses.
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youcan'tstopusnow
#5 Posted : Wednesday, April 28, 2010 2:44:00 PM
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It is a strategy for all of Barclays' operations in Africa
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smano
#6 Posted : Wednesday, April 28, 2010 4:01:38 PM
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Posts: 2,589
Will mostly affect the client's of the BBK custodial service clients e.g fund managers who have been using their services. Has no real material effect on the share, perhaps a perceived effect.
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VituVingiSana
#7 Posted : Wednesday, April 28, 2010 8:39:29 PM
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Little or no effect on BBK...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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BGL
#8 Posted : Monday, August 09, 2010 1:07:37 AM
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Joined: 10/11/2009
Posts: 1,223
Wednesday, August 11, 2010

Barclays Bank will announce its financial results for the first half of 2010.
Barclays Bank of Kenya was the only major commercial bank that reported a profit decline for their first quarter of the year results, which was attributed to reduced lending rate and high staff costs.
History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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youcan'tstopusnow
#9 Posted : Monday, August 09, 2010 1:18:30 AM
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Location: Black Africa
Well, at least this time they won't wait till the very last day
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cnn
#10 Posted : Wednesday, August 11, 2010 11:02:35 AM
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Joined: 6/17/2009
Posts: 1,627
Pre-tax profits only up by 5%,no wonder they are levying higher fees on their customers.Interest income is proving difficult to grow.
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