real-time news and commentary for investors
Tuesday, Sep 3
Barclays to sell UAE retail operation
- The bank has decided to sell its retail operations in the United Arab Emirates after completing a review of the business. The sale could impact up to 280 employees, says a source.
- A separate source at the bank tells Reuters Barclays (BCS) will keep its Dubai branches in order to serve corporate clients.
- The move is part of an overall effort to trim jobs, expenses, and business lines in the face of higher capital requirements.
- Previous: Barclays reviewing UAE operations.
- Shares +2.3% premarket.