April 6, 2017 / 7:20 AM / 4 months ago

BRIEF-Barclays Africa comments on S&P downgrade of S.African banks

1 Min Read

April 6 (Reuters) - Barclays Africa Group Ltd:

* S&P downgrades South African Banks

* Downgrade of sovereign has a direct impact to banks that are systemic to economy

* Also acknowledge Moody's announcement that they are putting South Africa under review for a downgrade

* Barclays Africa is well-capitalised with a strong liquidity position and a balance sheet of over 1 trillion rands

* Remain well capitalised for our strategy, risk appetite, risk profile, business activities and macroeconomic environment

* Remain committed to initiatives in support of government's efforts to effect structural reforms to stimulate inclusive economic growth Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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