Barclays profits soar as investment bank sees record results
Pre-tax profits almost trebled to £8.4bn in 2021 from £3bn the previous year
Company
LON:BARC
Barclays is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services, with an extensive international presence in Europe, the USA, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs 147,000 people.
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Pre-tax profits almost trebled to £8.4bn in 2021 from £3bn the previous year
“These sky-high banker bonuses are a kick in the teeth for everyone suffering with the cost of living crisis,” Gary Smith, general secretary of the GMB union, told the Guardian
Improving UK employment and spending trends are likely to support interest rate hikes
UBS rates Barclays as a 'buy' with a 250p price target.
Lobby group The Investor Forum is said to have received complaints from some of its members
During the last hiking cycle of 2017 to 2018, UK banks outperformed the sector by 8% from 90 days prior to the first hike to the second and final hike
The bank has appointed CS Venkatakrishnan as CEO to replace Staley
UBS told clients: “Barclays trades on the lowest PE [price-to-earnings ratio] in European banks, offering attractive gearing to rates, over-provisioning, unsecured spend, CIB and buybacks.”
Third quarter performance was the best in the bank's history
Budget speculation is now in full swing and here are some of the suggestions/guesses for what it might include
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Barclays, Unilever and AJ Bell are among the notable names in the diary for Thursday.
The surcharge will be slashed from 8% to 3%, the Financial Times reported
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Miners BHP, Anglo American and Antofagasta, consumer goods giant Unilever and hotelier IHG are also on the big-cap schedule
Activist funds that pushed a company to make a strategic or operational change saw an average outperformance, while a focus on governance demands saw an average underperformance, research by Alvarez & Marsal found
Data on the lender's deals is pointing to further market share gains
JP Morgan believes the transition between Charlie Nunn (who took up the role of CEO last month) and António Horta-Osório should be a smooth one
Gap and Barclays have agreed to issue co-branded and private label credit cards in the US to Gap customers from next year
Sorting out the ESG early on in the portfolio building process will pay off in the long term
A Jefferies ‘buy’ recommendation comes with a 300p price target
Jes Staley, chief executive, said it was a strong first half with record investment banking fees