Barclays to reveal GB£5.8bn recovery
Barclays Bank is expected to reveal that annual profits have bounced back strongly this week to GB£5.8 billion, compared with GB£800 million last year.
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The first of the “big four” banks to report full year numbers, Barclays, will be followed on February 13 by Lloyds Banking Group. Both have already given an unprecedented level of guidance on their performance.
Barclays will release its 2013 results on February 11, less than two weeks after it gave investors a surprise update on its financial performance during the final months of last year.
Its Africa operations, Barclays Africa Group, will be releasing its full year results the same day at the Sandton Convention Centre, in Johannesburg South Africa.
Media persons and some financial analysts and stock brokers from Ghana and other African countries outside South Africa would have the opportunity to join in the discussions via a conference call.
The Ghana operations of the bank contribute significantly to the Africa business. The bank recovered from a dip in profit after tax of GH¢59.2 million in 2010 to GH¢83 million in 2011.
Maria Ramos and David Hodnett, Barclays Africa Group’s Chief Executive and Deputy Chief Executive respectively, will host the media briefing and interaction session in Sandton.
The bank is forecast to report pre-tax profits of GB£5.8 billion on revenues of more than GB£28 billion.
