Ana Cap Financial Partners: Barclays had already announced plans in March to sell its 62 percent stake in Barclays Africa Group
over the next two to three years, leaving the continent to focus on Britain and the United States, according to Euro News. First quarter pretax profits fell to 793 million pounds, below the average forecast of 846 million pounds from analysts polled by the company. The lender also said on Wednesday that it was in discussions to sell its French retail banking operations to Ana Cap Financial Partners, as part of efforts to shed non-core assets to cut costs and restore profits. Stripping out a 109 million pound accounting charge for swings in the value of the bank own debt, pretax profits were 7 percent higher than forecast, partly due to higher than expected income and lower impairments. U.S. investment banks last week reported much sharper revenue declines, with Goldman Sachs falling 40 percent year-on-year.. Barclays shares were trading 2.8 percent higher at 178.9 pence at 0855 GMT, pushing the bank to the top of the FTSE 100 <.FTSE> gainers. The investment bank performance, looked at on its own, doesn’t seem fantastic but with revenues down 11 percent in dollar terms, this is actually very good when compared to peers, said Brian Cullen, fund manager at S.W. Mitchell Capital which holds Barclays shares. (news.financializer.com). As reported in the news. Tagged under Ana Cap Financial Partners, pretax profits topics.