By Najibu Mulema

One of the leading banks in a country, Barclays bank has cancelled its staff end of year party due to the financial constraints faced by the bank in the course of this year.

The bank has been organizing end of year parties annually to celebrate the success achieved in the particular year and also reward its outstanding employees.

According to the management, the bank has faced alot of challenges in the course of this year and as a result the performance has not been promising in terms of business output and profit maximization.

Further the bank says, given this situation, the business has decided to focus on containing and managing cost for the remainder of the year that scale up it’s 2017 focus in terms of deposit growth, segmentation of customers prepositions and drive its performance.

“With this regard, we officially announce that 2016 end of year party has been cancelled and we look forward for positive business performance so as to hold the event in future,” management committee said in a statement.