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France

Entered market 1918

Through its amalgamation with the London, Provincial and South Western Bank in 1918, Barclays acquired holdings in Cox and Co (France) Ltd, set up in 1914 to provide banking services to British forces during World War One. In 1918, Cox and Co Ltd sold their remaining shares to Barclays, and the business was transferred to a new company, Barclays Bank (Overseas) Limited. By the end of the War, Cox and Co had offices in Paris, Boulogne, Rouen, Le Havre, Marseilles, Lyons and Bordeaux, and during 1919-21, offices were opened in what was then French North Africa and on the Riveria, the latter to cater for wealthier clients and tourists. In 1922, Barclays Bank (Overseas) was formed to acquire the whole business, and in 1926, the name was changed to Barclays Bank (France) Ltd. A business portfolio, mainly focused on private banking, was then established throughout the South West and in Paris. During World War Two, British staff were evacuated whilst the business continued throughout the German occupied territories and in Vichy France. From 1967-68, the business was reorganised as Barclays Bank SA, a wholly owned subsidiary. In 1993, this became Barclays Bank PLC France, a full branch of Barclays. Moreover, the 1990s also saw the development of Barclays de Zoete Wedd (later Barclays Capital) in France, as well as the opening of Barclays' first European Treasury Centre in the country. Barclaycard International was established in 1998. In 2005, Barclays launched a new internet banking service in France for British people buying property in the country, and acquired two wealth management businesses: ING Ferri and ING Private Banking. In 2012, the newspaper Les Echoes named Barclays France as one of the best in the country for relationship management. In 2014, Barclays announced that all of the European retail bank businesses were to be placed within a 'Barclays Non-Core.' From here, the businesses were to be exited or run down over time in a considered and responsible way. All information is correct as of August 2015.

France