Trim Fat, Analysts Tell Barclays Africa

Monday, August 03, 2015

BARCLAYS Africa Group still had room to cut costs and manage excess capital better to help it reach its return on equity target of 18-20 percent in the next financial year, analysts said on Wednesday following the release of its interim results.

Its stock fell 1.94 percent to R183.28. The JSE’s other banks all rose, pushing the banking index 1.67 percent higher.

“It was a reasonably good result in the current environment. I think it’s pretty much what the market expected,” PSG Wealth portfolio manager Adrian Cloete said.

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