Barclays Africa Group Limited has delivered solid financial results for the year ended 31 December 2014 and is on track to deliver on its strategic priorities and financial commitments. The Group today reported a 10% increase in headline earnings to R13 billion from R11,8 billion in 2013 as pre-provision profit rose 5% to R27,3 billion and credit impairments declined by 10% to R6,3 billion.
The Corporate and Investment Banking division of Barclays Africa Group Limited (Barclays Africa) acted as the sell-side advisor to the state-owned Asset Management Corporation of Nigeria (AMCON) in the sale of Mainstreet Bank to Skye Bank. The deal is the largest acquisition of an African bank in 2014.
Barclays Bank of Kenya has announced a net profit of KES6.2bn forthe nine months ended30 September 2014. This represents an 11% growth in net profit compared to the same period last year.