Salz Review - Wall Street Journal

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205 Salz Review An Independent Review of Barclays’ Business Practices Barclays’ Africa Timeline Corporate Development / M&A Legal action Other 1925 1927 1950 1972 1987 5,000 20,000 Acquired first major presence overseas through merger of Colonial Bank, the Anglo Egyptian Bank and the National Bank of South Africa to form Barclays Bank Dominion, Colonial and Overseas Launched three branches in Uganda Launched operations in Botswana Became Barclays Bank International Limited Sold National Bank of Southern Africa after protests against Barclays' involvement in South Africa and its apartheid government 2000 2004 2005 2006 8,000 7,000 40,000 44,000 Re-entered Tanzania, a country it was forced to leave after a wave of nationalisation in 1967 Took full control of the Egyptian company it owned jointly with Banque du Caire Acquired a majority stake (55.5%) in Absa, one of South Africa's leading banks Absa was the first South African bank to publish a Customer Charter 2007 2011 2012 52,000 47,000 45,000 Faced negative publicity from providing loans to Robert Mugabe's regime in Zimbabwe Faced pressures from Zimbabwean officials to reduce its stake in its Zimbabwean arm under the country's indigenisation law, which requires foreign entities to dispose of 51% of their assets to indigenous Zimbabweans Combined most of its businesses in Africa with Absa ('One Africa') and increases its stake in Absa to 62.3% # Number of Barclays FTEs in Africa Employee numbers from Barclays HR data. All year-end FTE numbers, except 2012 (end of November); includes part-time staff; excludes interim and agency staff.
Salz Review An Independent Review of Barclays’ Business Practices 206 Barclays’ Spain Timeline Corporate Development / M&A Legal action Other 1974 1982 2002 1,600 2003 3,600 First nondomestic financial institution to enter the Spanish banking market Acquired a 63.2% stake in Banco de Valladolid Became 10 th largest bank in Spain, with total assets of €10.5 billion and 165 retail branches; ranked first in debt financing through Barclays Capital and also offered Barclaycard products in Spain Became 6 th biggest commercial bank in Spain with 526 branches through acquisition of Banco Zaragozano, Spain's largest private sector banking group 2005 2008 2009 2010 3,600 4,800 4,600 4,200 John Varley (CEO) quoted Spain and Africa as Barclays' best examples of earnings diversification in core banking activities outside the UK Recorded losses in property-related commercial banking exposures and credit cards in Spain Started reporting Spanish credit risk separately Recorded a £898 million impairment charge against Corporate loan book in Spain as a result of “deteriorating conditions in the Spanish property and construction sectors” Dec. 2011 Dec. 2012 3,600 3,500 Recorded a £480 million impairment charge against Corporate loan book in Spain as well as a £123 million impairment in Spanish goodwill Fined €600 thousand by Spain's stock market regulator for misrepresenting the risk profiles on some bonds sold in 2008 # Number of Barclays FTEs in Spain Employee numbers from Barclays HR data. All year-end FTE numbers, except 2012 (end of November) Includes part-time staff, excludes interim and agency staff.
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