Acquisition

RNS Number : 6550D

Barclays PLC

17 September 2008

 



17 September 2008

BARCLAYS PLC

Barclays to acquire Indonesia's Akita

Barclays has entered into an agreement to acquire PT Bank Akita ('Akita').  Akita is a small, privately-owned bank with ten outlets in three major cities in Indonesia. As at July 2008, Akita had total assets of IDR 959 billion (ca. £51m).   

The acquisition of Akita is in line with Barclays stated strategy of increasing its exposure over time to emerging markets with good growth characteristics. The transaction is expected to complete in early 2009, after receipt of appropriate regulatory approvals.  

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For further information please contact:

Barclays

Investor Relations                 Media Relations    

Mark Merson                          Rob McIvor

[phone]           [phone]

John McIvor                            Marc Hazelton                

[phone]           [phone]                

About Barclays

Barclays is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services with an extensive international presence in Europe, the United States, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs approximately 147,000 people. Barclays moves, lends, invests and protects money for over 42 million customers and clients worldwide. For further information about Barclays, please visit our website www.barclays.com.

About Akita

PT Bank Akita, established in 1990 and based in Jakarta, holds a general banking license and focuses mainly on the small and medium-sized business banking segments, offering transaction banking, lending and money transfer services. In addition to their head office premises in Jakarta, Akita has 4 branches (1 in Bandung, 1 in Surabaya and 2 in Jakarta), 4 sub-branches (3 in Jakarta and 1 in Surabaya) and 2 cash offices (both in Jakarta).  

Forward Looking Statements

This announcement contains certain forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and Section 27A of the US Securities Act of 1933, as amended, with respect to certain of the Group's plans and its current goals and expectations relating to its future financial condition and performance. 

By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances, including, but not limited to, UK domestic and global economic and business conditions, market related risks such as changes in interest rates and exchange rates, the policies and actions of governmental and regulatory authorities, changes in legislation and the impact of competition- a number of which factors are beyond the Group's control. As a result, the Group's actual future results may differ materially from the plans, goals, and expectations set forth in the Group's forward-looking statements. Any forward-looking statements made by or on behalf of Barclays speak only as of the date they are made. Barclays does not undertake to update forward-looking statements to reflect any changes in Barclays expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based. The reader should, however, consult any additional disclosures that Barclays has made or may make in documents it has filed or may file with the SEC.

 

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