The British bank Barclays reported a loss of £ 1.2 billion ($ 1.57 billion) in the first six months of the year after suffering a loss of £ 2.5 billion from the sale of its subsidiaries in Africa.
The bank Barclays announced that Barclays Africa Group had lost 1.4 billion pounds in sales of 33 percent of its shares and had to pay £ 1.1 billion due to depreciation in sales.
The bank has also stated that the ongoing restructuring efforts of the bank have been stopped. The bank Barclays, that reduced its 15% interest in Barclays Africa Group in June 2017, gave up its 90 year leading position in Africa and ended its activity as a leading name in this continent, prioritizing its priorities in the United Kingdom and the United States activities.
Like the assets in Africa, the damage done to the sale of other unwanted assets also showed the cost of the restructuring efforts undertaken by CEO of the bank, Jes Stanley. Stanley stated in a written statement that “the restructuring within the Barclays Group has ended”. The bank Barclays shares fell 1.3 percent today at the TSI level of 1000.