Barclays's Africa Choice to Depend on Capital, Ex-Director Says

  • Bank's profitability eroding in South Africa as economy slows
  • CEO Staley must decide where capital best deployed, Rake says

Barclays Plc must decide whether its capital is best deployed in Africa amid slowing growth in the continent’s second-biggest economy and a need to further shrink its balance sheet, according to Michael Rake, the bank’s former deputy chairman.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.