Barclays Reports Initiatives In Investment Bank; To Close Offices In 9 Countries

(RTTNews) - Barclays plc. (BARC.L, BCS) announced several initiatives within its Investment Bank. It will close offices in nine countries across Asia, the Americas and EMEA. The Investment Bank will continue to focus on its two home markets in the UK and US and to develop its global franchise, building on areas of competitive advantage and the strength of its client relationships internationally, while exiting certain product lines.

In Asia, the company will continue to provide expertise and resources to clients who have cross-border requirements from offices in China, Hong Kong SAR, Singapore, Japan and India.

Barclays said it will report its full year results for the year ended 31 December 2015 on 1 March 2016. For this period, Barclays expects to report Investment Bank income broadly flat on the prior year.