Barclays Africa Group shareholders are advised that Barclays PLC released its third quarter
2014 results today.
Barclays PLC disclosed results for an Africa Banking segment, which includes Barclays Africa Group, operations in Egypt and Zimbabwe and various overlays. They provided a constant currency view of Africa Banking's performance in the nine months ended 30
September 2014 that maintains trends shown by Barclays Africa Group in the first half.
These include net interest income benefiting from strong year-on-year growth in Corporate and Investment Banking loans and a wider net interest margin, given higher South African interest rates. The Group's credit loss ratio continues to improve, largely due to significantly lower mortgage impairments while Card impairments increased year on year. Continued investment in key initiatives increased operating expenses growth, which is expected to slow in the fourth quarter. Barclays Africa Group's return on equity for the nine months improved slightly from the 16.1% in the first half.
Johannesburg
30 October 2014
Alan Hartdegen - Head: Group Investor Relations
Telephone: +27 (0)11 350-2598
Email: alan.hartdegen@barclaysafrica.com Independent lead sponsor to Barclays Africa Group J.P. Morgan Equities South Africa Proprietary Limited Joint sponsor to Barclays Africa Group
Absa Corporate and Investment Banking, a division of Absa Bank Limited
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