Cairo Barclays Bank (CBB) recorded a 62 percent decrease in net profits in the first half of 2002, reaching 13.7 million Egyptian pounds ($2.9 million) compared to recorded net profits of EP 36.4 million during the same period last year.
The British-based Barclays bank has been active in Africa for over a century, and currently operates retail and corporate banking facilities in Botswana, Egypt, Ghana, Kenya, Mauritius, the Seychelles, Tanzania, Uganda, Zambia and Zimbabwe. The Cairo branch of Barclays Bank was established 25 years ago as a joint venture between Banque du Caire (40 percent) and the British Barclays Bank PLC (60 percent). — (menareport.com)
© 2002 Mena Report (www.menareport.com)
