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Completion of Sale of Barclays Bank Egypt

Barclays Bank PLC has today completed the sale of its Retail and Corporate Banking business in Egypt to Attijariwafa Bank S.A. 

The transaction increases proforma Common Equity Tier 1 (CET1) ratio by c.10bps on closing, in part reflecting a reduction in risk weighted assets of c.£1.0bn.

All of Barclays Bank Egypt’s 1,500 employees and 56 branches will become part of Attijariwafa Bank S.A.

Jes Staley, Barclays Group CEO, said: "Today’s announcement brings us another step closer to completing the restructuring of Barclays, maintaining momentum as we work toward the closure of Barclays Non-Core at the end of June.

"I would like to thank our colleagues in Egypt who have worked tirelessly to ensure a smooth transition for our customers, and I wish them well in their future with Attijarawafa Bank S.A.”

“Barclays remains committed to its Middle East and North Africa business as we continue to strengthen our franchise in the region.”

About Barclays

Barclays is a transatlantic consumer, corporate and investment bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.

With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 120,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website .