Trim Fat, Analysts Tell Barclays Africa

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.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

Have a Story? Send Us a tip
arrow up