Market Chatter: Barclays' Middle East Expansion Plans Remain on Track

MT Newswires Live10-22

Barclays (BCS) is proceeding with plans to expand in Saudi Arabia and the wider Middle East, maintaining a constructive view of the region, Bloomberg reported Thursday, citing Asia-Pacific Chief Executive Officer Jaideep Khanna.

The bank is seeking a financial services license to establish a full-fledged platform in Saudi Arabia and plans to expand its presence in Turkey, Khanna said in a Bloomberg TV interview in Singapore, according to the report.

Separately, Barclays sees growing opportunities in Japan, India and China, while focusing on strengthening its existing Japanese platform, Khanna added.

Barclays did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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