[ 2016-03-08 ]

Barclays Ghana allays fears of customers
Customers of Barclays Bank Ghana Limited should
not be worried about the safety of their funds

as the bank is not closing its operations in the
county, Managing Director (MD), Mrs Patience
Akyianu has assured.

The bank, the MD said, “remains strong, is a
profitable business, is well capitalised and very
liquid.”

“We are in Ghana to stay, so I will like to
assure all Ghanaians and especially our cherished
customers that nothing has changed in view of the
announcement made by Barclays PLC,” she said.

Mrs Akyianu was speaking to journalists in Accra
last Thursday following confirmation that Barclays
Plc, the parent company, plans to sell down its
62.3 per cent stake in Africa over the next
two-three years

News of a Barclays pull out from Africa first
emerged in December 2015 and then again on Friday
sent shares in Barclays Africa Group tumbling.

In Ghana, there has been speculation about the
safety of customer deposits with the bank, as well
as the job security of staff of the bank.

But Mrs Akyianu noted that the decision of
Barclays PLC is not a reflection on the strategic
direction or performance of Barclays Africa or
Ghana.

“Our future as Barclays Ghana is very bright and
our ambition to be the market leader remains
unchanged; Barclays Bank Ghana has been in this
market for almost 100 years; we have a clear
strategy in Ghana and we remain focused on
executing that strategy,” she indicated.

“We have continued to grow our Ghana business
for almost a century of existence in Ghana,
offering our customers cutting edge financial
solutions. We are in a strong liquidity position
and we will continue to ensure that we deliver
services and value to all our stakeholders,” the
Barclays Ghana MD stressed.

The British bank – which has enjoyed a
century-long dominance in Africa – said on
Sunday its board was evaluating strategic options
for its 62.3 per cent stake in the African
business, a holding worth about $8.3 billion.

But Barclays Africa has moved to assure its huge
client base that the parent company's pull-out
won't affect its Africa operations.

The announcement, according to Mrs Akyianu, is not
expected to negatively impact the operations of
Barclays Ghana and the entire Barclays Africa
Group, which is an independent entity listed on
the Johannesburg Stock Exchange and is
well-capitalised with a track record of generating
strong returns.

Barclays Africa maintains that it is continuing to
deliver on its strategy, has a strong and
independent board, and is regulated by the South
African Reserve Bank.

Source - The Finder

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