News

Barclays buys into South African market

May 8, 2005

The Sunday Business Post: Barclays announced a full-scale return to South Africa after confirming it would pay £2.9 billion (U.S. $5.5 billion) for a 60 percent stake in leading retail lender Absa.

Johannesburg-based Absa, which employs 31,000 staff, had 6.1 million personal banking customers at the end of September, served by 668 full and subsidiary outlets and more than 4,500 ATM machines.

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