Barclays Bank  employees to get 5 months salary as closing bonus

Workers at Barclays Bank Zimbabwe will receive a bonus of 5 months’ salary from Barclays Bank Plc. This will be a closing bonus from the British bank which sold its stake in Barclays Zimbabwe to Malawi’s First Merchant Bank. The bonus payment will cost Barclays Bank $2,6 million.

A source who spoke to Independent said:

Employees will get a five months’ salary closing bonus paid as a goodbye by Plc. This will cost the group £2 million which will obviously be taxed.

The deal is now expected to be concluded formally in the coming month.

Soon after concluding the transaction, several board changes will be announced which will also coincide with co-branding the business to Barclays-FMB.

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More: Independent