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Barclays reportedly plans to add capital, staff to China operations
BEIJING (MarketWatch) -- Barclays PLC (BCS:32.27, -2.66, -7.6%) plans to add capital and staff to its China operations, the state-run China Daily reported Thursday, citing bank President Robert Diamond.
Additionally, Barclays is seeking opportunities in China's retail and commercial banking sector, but local regulations have limited the bank's efforts, Diamond was quoted as saying.
China's regulations limits a single foreign institution's stake in local banks to 20%.
"We would like to be an active investor rather than a minor stakeholder," Diamond told the newspaper.
The report didn't give details of the bank's plans to boost staffing and capital.
dacare This entry was posted on March 18th, 2008 at 03:09:12 pm by dacare and is filed under Banking & Financial Services.