Barclays Bank Africa’s revenue increases to 23%

Chief Executive Officer, Maria Ramos

Barclays Bank Africa Group Limited says it remains committed to shared growth across the African continent.

Chief Executive Officer, Maria Ramos said this when she announced the bank’s half-year results for the period ending 30^th June 2016 via a conference call in Lusaka today.

Ms. Ramos also disclosed that Barclays bank Africa’s revenue from the rest of Africa increased to 23 percent while the group also maintained top three statuses by revenue in four of the five largest markets which include Zambia, Ghana, South Africa and Botswana.

She also notes that the cost to income ratio improved to 53.4 percent from 55.9 percent showing progress towards the medium term target of maintaining the cost to income ratio below fifty percent.

Ms. Ramos also states that average GDP growth in the rest of Africa presence countries is expected to be the lowest since 2002 due to weak jobs, high inflation rates and the rise in interest rates.