Barclays will relocate its Africa-headquarters from Dubai to
Johannesburg.
The British lender said that the bank would
begin operating from Johannesburg again, after having left the
South African capital in 2006.
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The bank’s decision to relocate its
Africa-headquarters follows Barclays’ announcement that it would
combine its regional offices with its African-subsidiary ABSA.
In April, ABSA, awarded UK-headquartered allen
international with the brief to create an innovative retail
space that will enhance the bank’s core brand values while
using state of the art technology to reinvent the relationship with
existing and prospective customers.
Barclays’ first quarter net profit was down 5%
from a year-ago to £1.24bn ($2.04bn), although profits before tax
at Barclays’ Retail and Business Banking division increased by 21%
year-on-year to £692m.
However, profit before tax at Barclays’ ABSA
unit in South Africa decreased 19% to £135m.
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