Barclays Chairman Francis Okomo-Okello (left), Barclays Africa Group
deputy CEO David Hodnett (centre) and Barclays Bank Kenya managing
director Jeremy Awori (right) during the bank's annual general meeting
at Ruaraka on May 27, 2016. PHOTO | DIANA NGILA | NATION MEDIA GROUP
Barclays
Africa Group Deputy Chief Executive David Hodnett, who jetted into the
country to attend the Barclays Kenya annual general meeting on Friday
said the officials would discuss concerns raised by the Kenyan regulator
on the effects of deconsolidating Barclays Plc.
“We
are a systemic bank in all the countries we operate in. For example, in
Kenya, we are quite a big bank and, therefore, the regulator quite
correctly identifies it as a systemic bank and he must worry about it,”
Mr Hodnett said on Friday.
Dr Njoroge had urged
Barclays Plc and its Johannesburg-based unit to engage with regulators
in the countries in which it operates as the British bank exits the
continent.
Bloomberg News had last week quoted
Dr Njoroge saying that the bank was treating regulators in the 12
African jurisdictions that it is exiting as ‘flower girls’ with no role
to play in the transaction.
MEET FACE TO FACE
“He
is correct to expect us to communicate proactively, we want to be able
to do that with all our regulators. I’m going to meet face to face with
the governor and I think it is something we are going to continue to
work on,” said Mr Hodnett.
He said the lender
would look beyond the regulatory requirements in South Africa where it
is listed to evaluate the likely effects in all jurisdictions it
operates in.
Mr Hodnett said that they would
have to look at the other banks and how they are set up, whether some
other regulators might have to be involved depending on the extent of
beneficial ownership
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