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Barclays plc (/ ˈ b ɑːr k l i z /, occasionally /-l eɪ z /) is a British multinational universal bank, headquartered in London, England.Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services.
The headquarters and main branch of Barclays Bank of Tanzania Limited are located in Barclays House, along Ohio Street, in the city of Dar es Salaam, the financial capital and largest city of Tanzania. [4] The geographical coordinates of the bank's headquarters are: 06°48'40.0"S, 39°17'12.0"E (Latitude:-6.811111; Longitude:39.286667). [5]
The bank operated in that capacity until 2000, when Barclays Bank Seychelles Limited was incorporated. In 2006, the bank served approximately 35,000 customers, through 5 branches, 7 ATMs and 130 members of staff. In 2013, the bank became a member of Barclays Africa Group, in which Barclays Plc had a 62.3 percent majority shareholding. [6]
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However, the bank was licensed in its present form in 1974. The bank is a member of the Absa Group Limited, which was a subsidiary of Barclays Bank Plc., until June 2017, when Barclays Plc decided to sell down its shares in the group. [4] In March 2018, Barclays Africa Group made a decision to re-brand to Absa Group Limited. [5]
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Under the terms of the sale, the bank was given permission to continue the use of the Barclays name for up to three years, before rebranding. [8] During the 2008–2012 time frame, the bank employed a maximum of 1,423 employees in January 2008, but the payroll was "rationalized" to about 700, by the time FMB Capital Holdings Plc acquired the ...
In May 2005, Barclays of the United Kingdom purchased 56.4 percent stake in Absa, [14] which was criticized by the then-governor of the South African Reserve Bank, Tito Mboweni, who said he "had yet to see the benefits of Barclays' management of Absa". [15] With the acquisition, Absa Group Limited was rebranded as Barclays Africa Group Limited.