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Top related persons:
Venkatakrishnan - 3 C.S - 2 — CNBC's Elliot Smith - 1 Mariva Rivas - 1 DBRS Morningstar - 1 Rivas - 1
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Wharf London
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LONDON - 3 Barclays - 3 Corporate Bank - 2 Barclays Private Bank - 2 Wealth Management - 2 Barclays Investment Bank - 2 Barclays U.S . Consumer Bank - 2 Tesco Bank - 1

Search resuls for: "Barclays U.K"


3 mentions found


☆ Barclays swings back to profit in first quarter amid strategic overhaul
  + stars: | 2024-04-25 | by ( Karen Gilchrist | ) www.cnbc.com   time to read: +2 min
LONDON — Barclays on Thursday reported first-quarter net income attributable to shareholders of £1.55 billion ($1.93 billion), beating expectations and returning the British lender to profit amid a major strategic overhaul. Analysts polled by Reuters had expected net profit attributable to shareholders of £1.29 billion for the quarter, according to LSEG data. Barclays reported a net loss of £111 million in the fourth quarter of 2023 due to an operational shake-up designed to reduce costs and improve efficiencies. The overhaul saw the reorganization of the business into five operating divisions, separating the corporate and investment bank to form: Barclays U.K., Barclays U.K. Corporate Bank, Barclays Private Bank and Wealth Management, Barclays Investment Bank and Barclays U.S. Consumer Bank. The bank also pledged to return £10 billion to shareholders between 2024 and 2026 through dividends and share buybacks.
Persons: C.S, Venkatakrishnan, — CNBC's Elliot Smith Organizations: LONDON, Barclays, Reuters, Tesco Bank, Corporate Bank, Barclays Private Bank, Wealth Management, Barclays Investment Bank, Barclays U.S . Consumer Bank
☆ Barclays jumps 8.6% after announcing major strategic overhaul
  + stars: | 2024-02-20 | by ( Elliot Smith | ) www.cnbc.com   time to read: +4 min
LONDON — Barclays on Tuesday reported a fourth-quarter net loss of £111 million ($139.8 million) as the British lender announced an extensive strategic overhaul, boosting its shares more than 8.6% through the day. For the full year, net attributable profit came to £4.27 billion, down from £5.023 billion in 2022 and below a consensus forecast of £4.59 billion. Credit impairment charges were £552 million, up from £498 million in the fourth quarter of 2022. The business will now be divided into five operating divisions, separating the corporate and investment bank to form: Barclays U.K., Barclays U.K. Corporate Bank, Barclays Private Bank and Wealth Management, Barclays Investment Bank and Barclays U.S. Consumer Bank. Barclays is targeting total gross cost savings of £2 billion and an RoTE of greater than 12% by 2026.
Persons: C.S, Venkatakrishnan, Mariva Rivas, DBRS Morningstar, Rivas Organizations: Citigroup Inc, State Street Corp, Barclays Plc, HSBC Holdings Plc, LONDON, Barclays, Reuters, Momentum, Corporate Bank, Barclays Private Bank, Wealth Management, Barclays Investment Bank, Barclays U.S . Consumer Bank, CNBC, U.S Locations: Wharf
☆ Barclays narrowly beats profit forecasts on strong consumer, credit card business
  + stars: | 2023-10-24 | by ( Elliot Smith | ) www.cnbc.com   time to read: +2 min
LONDON — Barclays on Tuesday reported a net profit of £1.27 billion ($1.56 billion) for the third quarter, slightly ahead of expectations as strong results in its consumer and credit card businesses compensated for weakening investment bank revenues. Venkatakrishnan said the bank "continued to manage credit well, remained disciplined on costs and maintained a strong capital position" against a "mixed market backdrop." Barclays' corporate and investment bank (CIB) saw income decrease by 6% to £3.1 billion, with the bank citing reduced client activity in global markets and investment banking fees. The bank did not announce any new returns of capital to shareholders after July's £750 million share buyback announcement. The cost-income ratio in the third quarter was 63%, but the bank has set a medium-term target of below 60%.
Persons: Venkatakrishnan Organizations: LONDON, Barclays, Reuters, C.S, Barclays U.K, Q423 Locations: London
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