Barclays Bank Plc which last week sold its 68 percent stake in Barclays Bank Zimbabwe to Malawi’s FMB has reassured workers that they will not be losing their jobs. All employees and branches will be retained FMB Malawi.
In an e-mail last week, the United Kingdom-based financial institution said:
The sale will result in all 700 employees, 25 retail branches and five corporate service centres becoming a part of the FMB group. This transaction will see a £292 million reduction in risk weighted assets.
Barclays Bank PLC has today (June 1) announced the sale of its majority shareholding in Barclays Bank of Zimbabwe Limited to FMB capital holdings PLC. Completion of this transaction is subject to regulatory approvals and is currently expected to conclude by the end of the third quarter 2017
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