Collapses Barclays investment banking business in Russia

Collapses Barclays investment banking business in Russia


The reduction in banking activity takes place in the framework of the global restructuring. Previously Barclays withdrew from South Korea and Taiwan, the Bank also announced its intention to close units in Australia, Indonesia and Thailand.

MOSCOW, 21 Jan. One of the largest in the UK and the world financial conglomerates Barclays Bank closes the investment-banking division in Russia, reports Reuters.

In addition to reductions in the Russian Federation, as Barclays closes its offices in Australia and in several Asian countries, including Indonesia and Thailand. The reduction in Bank activity “takes place in the framework of the global restructuring of the Bank”, is spoken in the message of the Agency with reference to an internal document of the Bank’s management.

Earlier in January, Barclays withdrew from South Korea and Taiwan, the Agency said.