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...Barclays’ profits fell 13 per cent in the first quarter, as the bank announced its first results since chief executive CS Venkatakrishnan set out an ambitious three-year plan to revive its share price....
...In February, Barclays said it had cut its annual bonus pool by 3 per cent after a tough year for its investment bank in 2023, while the bank has also embarked on a programme of job cuts, particularly in...
...Barclays wants its investment bank to have more-or-less the same cost base and risk-weighted assets in 2026 as 2023, but says it will be generating between £2bn and £3bn more in revenues....
...Not including the group function, these will be: Barclays UK, private bank and wealth (which since 2021 has averaged 31 per cent Rote), the US consumer bank, the UK corporate bank and an independent investment...
...The bank said that without that reduction, bonuses would be down 15 per cent this year. Barclays is one of the first banks to outline its cut to bonuses following a brutal year for investment banking....
...Barclays has resolved not to cave to critics who want to see the volatile and low-returning investment bank shrunk....
...That is one of the reasons why central banks acted so aggressively in March 2020, and Barclays’ Joseph Abate and Jeffrey Meli argue that this is the way things will be from now on: We argue that investors...
...Next week, Barclays boss CS Venkatakrishnan — known as Venkat — must offer a plausible fix for this at the bank’s first strategy overhaul in almost a decade....
...But investors disagreed, worried that the sale left Barclays over dependent on the investment bank....
...Barclays announced new management for most of those divisions on Tuesday, with the investment bank being co-led by four people....
...Barclays has announced a plan to return £10bn to shareholders over the next three years as chief executive CS Venkatakrishnan attempts to revive the UK bank’s languishing share price....
...Barclays said conditions were in place for Europe’s equity rally, which has kept pace with Wall Street so far this year, to continue....
...Barclays awarded smaller bonuses in 2023 and gave its chief executive a smaller pay package, as the UK bank sought to revamp its strategy and galvanise its share price....
...Blackstone’s credit and insurance division will buy the US credit card receivables from Barclays for an undisclosed sum, and the bank will continue to service the accounts for a fee....
...Private-credit funds are on track for their outright decline in gross capital distributions for the first time since 2020, the bank points out: As Barclays puts it: In our view, the suppression in private...
...The bank said on Friday that it would take on Tesco Bank’s credit cards and unsecured personal loans, totalling about £8.3bn of lending balances....
...Barclays’ UK consumer bank division generates the highest return on tangible equity, a key measure of profitability, while consuming much less capital than its investment bank, according to JPMorgan....
...In today’s newsletter: Barclays plots another revamp Two credit card giants combine Dell backs new private credit firm Barclays boss unveils his plan to revive the bank Barclays’ most important strategy...
...Barclays expects Italy’s total bond issuance will be €360bn this year, up from €340bn last year, with sales net of redeeming bonds at €93bn, up from €87bn in 2023....
...Member banks funding the scheme include Bank of Ireland, Barclays, Danske Bank, HSBC UK, Lloyds Banking Group, NatWest Group, Santander, TSB and Virgin Money....
...Barclays reported that its interest payments rose by £1.1bn, to £1.9bn....
...These range from the sale of $2.3bn of loans from PacWest to Ares via Barclays in the regional bank crisis of March 2023, Blackstone Private Credit Fund’s 19 secured credit commitment facilities, REITs’...
...Barclays chief executive CS Venkatakrishnan has called for the UK to create an economic development agency to drive long-term growth and depoliticise industrial policymaking....
...Cambridge and most of its 31 colleges bank either with Barclays or Lloyds, according to a bursar at one of the colleges....
...Not fast enough for Barclays, however. The UK bank held its long-awaited strategy day this week, aiming to lay to rest the endless questions about the low returns of its investment bank....
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