Barclays plans no acquisitions in this area

Less than a year after the South African Absa, the British Barclays Bank keeps the course of the international. These past two years, the Bank has spent more than 4 billion pounds to its development outside the United Kingdom, by organic growth and acquisitions, and it has to keep this pace. It wishes to indeed be the share of profits cleared out the United Kingdom from 40 to 50 in the next three years but focusing on organic growth. Half of this international contribution should come from the activities of retail and commercial bank, the other being incorporated global crafts such as the Investment Bank and asset management. Region target for these goals The India. Three areas are being strategic for Barclays: the southern Europe (which includes the France, the Italy, the Spain and the Portugal), Africa, and the emerging markets are the India, the Gulf region and the Caribbean. China is not part of the areas to target for retail trades.

A clear priority

"We have invested in China in the investment bank but we have no legacy in retail banking, said David Roberts, the Director General in charge of the Bank retail and commercial bank in Barclays international." We also prefer to have control of the banks in which we invest. "For commercial bank and retail trades, the India is clearly a priority. "With a GDP growth of 8 per year, the country has enormous potential," he continued.

The British Barclays is already present through its market activities, and has to double its allocated capital to $ 300 million. It will invest $ 70 million to develop its financing activities. Most importantly, he hopes to establish a network of agencies. "Under the terms of a decision of the WTO, foreign banks will be allowed to open 12 agencies a year in India, explains David Roberts." Their location will be determined by the authorities.

Barclays has 4.9 of the second bank private Indian ICU, with whom he collaborated on some activities, but which HSBC is also a shareholder. Barclays is also partner of the HDFC Bank but, until 2009, foreign investments in Indian banks will have to remain minority. "Short term, we can develop by organic growth, said David Roberts. Long term, who knows If an operation is possible and feasible, we will consider it.

In the area of the Gulf, Barclays does not put on the Bank of detail but rather on the financing of "mid caps" and private banking. Same thing in southern Europe, where the institution develops on a few specific segments: affluent individuals, "mid caps", housing credit. Barclays plans no acquisitions in this area.

"Barclays is one of the only banks that did not have to go through mergers between equals to be," notes David Roberts. In Eastern Europe, "European markets are already consolidated and are small." "We prefer the larger less consolidated markets." The Africa area, should contribute to almost two thirds to the results of the 2006 pole with Absa, which reached 355 million pounds of result for five months.