Barclays Plans Modest Return to South Africa

LONDON - Barclays PLC, the largest bank in Britain, expects to return to South Africa with a modest presence, said its chairman, Sir John Quinton.

The presence would be limited to one or two branches, he said, rather than the type of major retail banking operation the company used to have. He did not give a timetable.

Barclays' South African subsidiary had 1,000 branches and 25,000 employees at its peak before imposition of international trade sanctions.

The chairman said Barclays is likely to establish a representative office in Johannesburg to serve corporate clients inside and outside the country.

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