Thursday, February 22, 2007
Barclays in Russia
LONDON (AFX) - Barclays PLC is planning to become the first British high street bank to set up a retail branch in Russia, The Times has reported. The newspaper said the company is planning its return to the country after its banking division, now renamed Barclays Capital, pulled out of the country when it lost 250 mln stg in the Russian currency default. Banking rival HSBC revealed this month it is applying for a consumer banking licence in Russia, where it already has corporate and investment banking interests.
