Barclays Africa, the bank that is being sold by its parent company, warns its credit-loss ratio will worsen as customers fall behind in their loan repayments, and economic growth in the South African market falls. Barclays is in the process of trying to sell its 62.3% stake in Barclays Africa over the next two to three years, and this latest news is expected to create a headache for the bank. As we noted earlier this week, Carlyle, who previously ran Barclays, confirmed that he and investors, including US private-equity firm Bob Diamond, are working together on a potential bid for Barclays Africa.
Barclays Africa, the bank that is being sold by its parent company, warns its credit-loss ratio will worsen as customers fall behind in their loan repayments, and economic growth in the South African market falls. Barclays is in the process of trying to sell its 62.3% stake in Barclays Africa over the next two to three years, and this latest news is expected to create a headache for the bank. As we noted earlier this week, Bob Diamond, who previously ran Barclays, confirmed that he and investors, including US private-equity firm Carlyle, are working together on a potential bid for Barclays Africa.