BarclaysPlc said April 5 that in light of current market conditions forinvestment banking and on the back of a particularly strong March 2015, it doesnot expect "as strong a performance" from its investment bankingoperations for the first quarter.
Barclays' noncore income in the first quarter is expected todeteriorate further compared to prior quarters as a result of the impact ofcontinued spread widening on the fair valuation of the education, social housingand local authority loan portfolio.
The bank's results for the first quarter will be announcedon or around April 27.
Barclays also said that at a general meeting to be heldApril 28, it will seek shareholder approval for anytransactions which would resultin the accounting deconsolidation of
The British bank had said in March that it intends totrim its 62.3% stakein Barclays Africa over the next few years to a level that would allow it todeconsolidate the company from a regulatory perspective, and prior tothat, from an accounting perspective.
Barclays Investment Bank, Citigroup and J.P. Morgan Cazenovewill assist Barclays in the sell down.