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  • 7/31/2019 Fina Project Barclays


  • 7/31/2019 Fina Project Barclays


  • 7/31/2019 Fina Project Barclays


    Introduction: Executive summary of the project

    Banking Industry which is basically my concern industry around which my

    project has to be revolved is really a very complex industry. And to work for this

    was really a complex and hectic task and few times I felt so frustrated that I

    thought to left the project and go for any new industry and new project. Challenges

    which I faced while doing this project were following-

    - Banking sector was quite similar in offering and products and because ofthat it was very difficult to discriminate between our product and products of

    the competitors.

    - Target customers and respondents were too busy persons that to get theirtime and view for specific questions was very difficult.

    - Sensitivity of the industry was also a very frequent factor which was veryimportant to measure correctly.


    Area covered for the project while doing job also was very large and it was

    very difficult to correlate two different customers/respondents views in a


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    - Every financial customer has his/her own need and according to therequirements of the customer product customization was not possible.

    So above challenges some time forced me to leave the project but any how I did

    my project in all circumstances. Basically in this project I analyzed that-

    What factors are really responsible for performance of Barclay Banks

    performance in this competitive era

    The Barclays Center is a sports arena currently under construction in Brooklyn,New York City. The arena is being built partly on a platform over the MetropolitanTransportation Authority-owned Atlantic Yards at Atlantic Avenue. It is part of aproposed $3.5 billion sports arena, business and residential complex. The arena isintended to serve as a new home for the National Basketball Association's NewJersey Nets, currently based at Izod Center in East Rutherford, New Jersey.

    The arena was scheduled to open in 2011 along with the rest of the complex;however, controversies involving local residents and the use ofeminent domain aswell as a lack of funding have delayed the project. [The project is being developedby developer Forest City Ratner, who acquired the Nets in 2004, with the purposeof moving them from New Jersey to this site near the Atlantic Avenue-PacificStreet New York City Subway station and the Long Island Rail Road's AtlanticTerminal in Brooklyn, one of the most transit-accessible locations in the city. Themove would mark the return of major league sports to Brooklyn, which has beenabsent since the departure of the Dodgers to Los Angeles in 1957 (their proposalfor the world's first domed stadium at the Atlantic Yards to replace the unprofitable

    Ebbets Field had been turned down by the city in the past).

    On March 1, 2010, Brooklyn Supreme Court Justice Abraham Gerges struck downa challenge by property owners regarding the state's use of eminent domain, whichallowed the private property to be condemned.[3] The groundbreaking for theproject occurred on March 11, 2010,_New_Jersey,_California,_California,_New_Jersey
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    The mission or goal of Barclays is becoming 'the employer of choice.' The Group

    has led the way in the implementation of equal opportunities policies.

    Area of Operation

    The businesses of Barclays are:

    Banking (Personal and Business Banking/ Retail and Commercial Banking)

    Credit Card (Barclaycard) Investment Banking Investment Management

    Key Statistics

    Barclays holds assets of $1,587.06 billion. Barclays made profits of $5.92 billion in 2006. Barclays operates in over 60 countries. Barclays has 118,000 employees.

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    The senior management of Barclays includes

    The Barclays Group is based in Canary Wharf.

    Barclays plc is a British financial services firm operating worldwide. It is a holdingcompany that is listed on the London and New York stock exchanges, and waslisted on the Tokyo Stock Exchange until 2008. It is also a constituent of the FTSE100 Index.

    Barclays PLC is ranked as the 25th largest company in the world by Forbes Global2000 (2008 list). According to Datamonitor, by market share, Barclays is thelargest financial services provider globally with $3.7 trillion of assets. It is thesecond largest bank in the United Kingdom and the world based on asset size. Itsshare price fell by 90% in the year to 23 January 2009, but has recoveredsubstantially, leaving it higher as of 3 September 2009 than it had been a yearbefore. The bank's headquarters are at One Churchill Place in Canary Wharf, inLondon's Docklands, having moved there in May 2005 from Lombard Street in theCity of London.,_London,_London
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    Use the dropdown to select a predefined date range, or select 'Custom' and then usethe custom dropdown.

    Compare with:


    Barclays plc


    BNP Paribas


    Deutsche Bank



    JP Morgan Chase

    Lloyds TSB

    Royal Bank of Scotland


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    Welcome to Barclays, a world leader in financial services.

    We move, lend, invest and protect money for more than 50 million customers inover 50 countries and have over 300 years of history and expertise in banking. Ourservices include retail and commercial banking, credit cards, investment banking,wealth management and investment management services across Europe, Africa,Asia and the United States of America.

    We have been in India for nearly three decades, through Barclays Capital, aleading Investment bank and more recently with our retail and commercial bankingservices in Mumbai, New Delhi, Hyderabad, Kanchipuram near Chennai,

    Junagadh, Ahmednagar and Nelamangala near Bangalore.

    Barclays Finance is the trade name of Barclays Investments and Loans (India)Ltd.* offering competitive products and services to deliver superior value andmore importantly suit customer needs.

    Fast Processing Simple Documentation Small EMIs with longer tenure

    Moreover with 119 branches in 49 cities across the country, youre sure to find onein your neighbourhood. Just walk in and meet our Customer Relations Manager formore details.

    History of Barclays

    Barclays plc is a British financial services firm operating worldwide. It is aholding company that is listed on the London and New Yorkstock exchanges, andwas listed on the Tokyo Stock Exchange until 2008. It is also a constituent of theFTSE 100 Index.
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    Barclays PLC is ranked as the 25th largest company in the world by Forbes Global2000 (2008 list). According to Datamonitor, by market share, Barclays is thelargest financial services provider globally with $3.7 trillion of assets It is thesecond largest bank in the United Kingdom and the world based on asset size. Itsshare price fell by 90% in the year to 23 January 2009, but has recoveredsubstantially, leaving it higher as of 3 September 2009 than it had been a yearbefore.




    Founded 1690

    HeadquartersTower Hamlets, London,

    England, UK

    Area served Worldwide

    Key people

    Marcus Agius


    John S. Varley

    Group Chief Executive &

    Executive Director

    Robert Diamond


    Industry Banking

    ProductsRetail banking

    Commercial banking
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    Investment banking

    Investment management

    Private Equity

    Revenue 29,954 million (2009)


    income 4,585 million (2009)

    Net income 3,511 million (2009)

    Employees 145,000 (2010)

    Subsidiaries Barclays Bank plc


    Early years

    This banktraces its origins back to 1690 when John Freame and Thomas Gouldstarted trading as goldsmith bankers in Lombard Street, London. The name"Barclays" became associated with the business in 1736, when James Barclay, son-in-law of John Freame, one of the founders, became a partner in the business. In1728, the bank moved to 54 Lombard Street, which was identified by the 'Sign ofthe BlackSpread Eagle', over the years becoming a core part of the bank's identity.

    In 1776 the firm was styled "Barclay, Bevan and Bening" and so remained until1785, when another partner, John Tritton, who had married a Barclay, wasadmitted, and the business then became "Barclay, Bevan, Barclay and Tritton".

    In 1896 several banks in London and the English provinces, notably Backhouse'sBankofDarlington and Gurney's BankofNorwich, united under the banner of,_London,_London
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    Barclays and Co., a joint-stockbank. Between 1905 and 1916 Barclays extendedits branch network by making acquisitions of small English banks.

    Further expansion followed in 1918 when Barclays amalgamated with the London,Provincial and South Western Bank and in 1919 when the British Linen Bank wasacquired by Barclays Bank, although the British Linen Bank retained a separateboard of directors and continued to issue its own bank notes (see Banknotes of thepound sterling). Then in 1924 the planned takeover of National Bank of Kingstonreached near-completion but was halted three days before finalisation.

    Post war

    In 1965 Barclays established a US affiliate, Barclays Bank of California in SanFrancisco.

    Barclaycard, the first credit card in the UK, was launched in 1966 and in 1967Barclays unveiled the world's first ATM cash machine at Enfield, north London.British actor Reg Varney was the first one to use the ATM.

    In 1969 the planned merger with Martins Bankand Lloyds Bankwas blocked bythe Mergers and Monopolies Commission but the acquisition ofMartins Bankonits own was allowed. Also that year the British Linen Banksubsidiary was sold tothe Bank of Scotland in exchange for a 25% stake, a transaction that becameeffective from March 1971.

    In 1980, Barclays Bank International expanded its business to include commercialcredit and took over American Credit Corporation, renaming it BarclaysAmerican.

    Barclays became the first bank to re-open branches on Saturday mornings in 1982,twenty years after the practice ended. Two years later, in 1984, Barclays postedrecord profits.

    The following year Barclays Bank and Barclays Bank International merged: as partof the corporate reorganisation, the former Barclays Bank PLC became a group

    holding company, renamed asBarclays PLCand UK retail banking was integratedunder the former BBI, and renamedBarclays Bank PLC.

    In 1985 Barclays introduced Connect, the first debit card in the United Kingdom.

    Then in 1986 Barclays sold its South African business operating under theBarclays National Bankname after protests against Barclays' involvement in South
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    Africa and its apartheid government. Also that year Barclays bought de Zoete &Bevan and Wedd Durlacher to form BZW and to take advantage of the Big Bangon the London Stock Exchange.

    In 1988 Barclays sold Barclays Bank of California to Wells Fargo Bank, N.A.

    Edgar Pearce, the "Mardi Gras Bomber", began a terror campaign against the bankand the supermarket chain Sainsbury's in 1994.

    In 1996 Barclays bought Wells Fargo Nikko Investment Advisors (WFNIA) andmerged it with BZW Investment Management to form Barclays Global Investors.

    Two years later - in 1998 - the BZW business was broken up and parts were sold toCredit Suisse First Boston: Barclays retained the debt business which formed thefoundation of what is now Barclays Capital.

    In 1999 in an unusual move as part of the trend at the time for free ISPs, Barclayslaunched an internet service called this entity was acquired by BritishTelecom in 2001.

    The new millennium

    Barclays on Queen Street in Morley, West Yorkshire,_West_Yorkshire,_West_Yorkshire
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    The year 2000 saw the acquisition of Woolwich plc (formerly the WoolwichBuilding Society) Then in 2001 Barclays closed 171 branches in the UK, many ofthem in rural communities: Barclays called itself "THE BIG BANK" but this namewas quickly given a low profile after a series of embarrassing PR stunts.

    In 2003 Barclays bought the American credit card company Juniper Bank fromCIBC, re-branding it as "Barclays Bank Delaware". The same year saw theacquisition of Banco Zaragozano, the 11th Spanish bank.

    Barclays took over sponsorship of the Premier League from Barclaycard in 2004.

    In 2005 Barclays sealed a 2.6bn takeover ofAbsa Group Limited, South Africa'slargest retail bank, acquiring a 54% stake on 27 July 2005.

    Then in 2006 Barclays purchased the HomEq Servicing Corporation for $469million in cash from Wachovia Corp. That year also saw the acquisition of thefinancial website Comparetheloan and Barclays announcing plans to rebrandWoolwich branches as Barclays, migrating Woolwich customers onto Barclaysaccounts and migrating back-office processes onto Barclays systems - theWoolwich brand was to be used for Barclays mortgages.

    In January 2007 Barclays announced that it has purchased the naming rights to theBarclays Center, a proposed 18,000-seat arena in Brooklyn, New York, where theNew Jersey Nets planned to relocate.

    Planned merger with ABN AMRO

    In March 2007 Barclays announced plans to merge with ABN AMRO, the largestbank in the Netherlands However, on 5 October 2007 Barclays announced that ithad abandoned its bid, citing inadequate support by ABN shareholders. Fewer than80% of shares had been tendered to Barclay's cash-and-shares offer. This left theconsortium led by Royal Bank of Scotland free to proceed with its $99.9 centscounter-bid for ABN AMRO.

    To help finance its bid for ABN AMRO, Barclays sold a 3.1% stake to ChinaDevelopment Bankand a 3% stake to Temasek Holdings, the investment arm ofthe Singaporean government.

    Also in 2007 Barclays agreed to purchase Equifirst Corporation from RegionsFinancial Corporation for $225 million. That year also saw Barclays Personal,_New_York,_New_York
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    Investment Management announcing the closure of their operation in Peterboroughand its re-siting to Glasgow, laying off nearly 900 members of staff.


    On 30 August 2007, Barclays was forced to borrow 1.6bn ($3.2bn) from the Bankof England sterling standby facility. This is made available as a last-resort whenbanks are unable to settle their debts to other banks at the end of daily trading.Despite rumours about liquidity at Barclays, the loan was necessary due to atechnical problem with their computerised settlement network. A Barclaysspokesman was quoted as saying "There are no liquidity issues in the U.K markets.Barclays itself is flush with liquidity."

    On 9 November 2007, Barclays shares dropped 9% and were even temporarily

    suspended for a short period of time, due to rumours of a 4.8bn ($10bn) exposureto bad debts in the US. However, a Barclays spokesman denied the rumours.Subsequent write-downs at the bank were announced to be 1 billion ($1.9 billion),much less than feared.

    In July 2008, Barclays attempted to raise 4.5bn through a non-traditional rightsissue to shore up its weakened Tier 1 capital ratio, which involved a rights offer toexisting shareholders and the sale of a stake to Sumitomo Mitsui BankingCorporation. Only 19% of shareholders took up their rights leaving investors ChinaDevelopment Bankand Qatar Investment Authority with increased holdings in the


    In 2008 Barclays bought the credit card brand Goldfish for $70 million gaining 1.7million customers, and $3.9 billion in receivables Barclays also bought acontrolling stake in the Russian retail bank Expobank for $745 million. Later in theyear Barclays commenced its Pakistan operations with initial funding of $100million.

    Lehman Brothers acquisition

    On September 16, 2008, Barclays announced its agreement to purchase, subject toregulatory approval, the investment-banking and trading divisions ofLehmanBrothers, a United States financial conglomerate that had filed for bankruptcy. Inthe deal, Barclays will also acquire the New York headquarters building ofLehman Brothers.
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    On September 20, 2008, a revised version of the deal, a $1.35 billion (700million) plan for Barclays plc to acquire the core business of Lehman Brothers(mainly Lehman's $960 million Midtown Manhattan office skyscraper, withresponsibility for 9,000 former employees), was approved. Manhattan courtbankruptcy Judge James Peck, after a 7 hour hearing, ruled: "I have to approve thistransaction because it is the only available transaction. Lehman Brothers became avictim, in effect the only true icon to fall in a tsunami that has befallen the creditmarkets. This is the most momentous bankruptcy hearing I've ever sat through. Itcan never be deemed precedent for future cases. It's hard for me to imagine asimilar emergency."

    Luc Despins, the creditors committee counsel, said: "The reason we're notobjecting is really based on the lack of a viable alternative. We did not support thetransaction because there had not been enough time to properly review it." In the

    amended agreement, Barclays would absorb $47.4 billion in securities and assume$45.5 billion in trading liabilities. Lehman's attorney Harvey R. Miller ofWeil,Gotshal & Manges, said "the purchase price for the real estate components of thedeal would be $1.29 billion, including $960 million for Lehman's New Yorkheadquarters and $330 million for two New Jersey data centers. Lehman's originalestimate valued its headquarters at $1.02 billion but an appraisal from CB RichardEllis this week valued it at $900 million." Further, Barclays will not acquireLehman's Eagle Energy unit, but will have entities known as Lehman BrothersCanada Inc, Lehman Brothers Sudamerica, Lehman Brothers Uruguay and itsPrivate Investment Management business for high net-worth individuals. Finally,Lehman will retain $20 billion of securities assets in Lehman Brothers Inc that arenot being transferred to Barclays Barclays had a potential liability of $2.5 billion tobe paid as severance, if it chooses not to retain some Lehman employees beyondthe guaranteed 90 days.

    Recent developments

    Reuters later reported that the British government would inject 40 billion ($69billion) into three banks including Barclays, which might seek over 7 billion.

    Barclays later confirmed that it rejected the Governments offer and would insteadraise 6.5 billion of new capital (2 billion by cancellation of dividend and 4.5billion from private investors).

    In January 2009 the press reported that further capital may be required and thatwhile the government might be willing to fund this, it may be unable to do sobecause the previous capital investment from the Qatari state was subject to a,_Gotshal_%26_Manges,_Gotshal_%26_Manges,_Gotshal_%26_Manges,_Gotshal_%26_Manges
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    proviso that no third party might put in further money without the Qataris receivingcompensation at the value the shares had commanded in October 2008.

    In March 2009 it was reported that in 2008, Barclays received billions of dollarsfrom its insurance arrangements with AIG, including $8.5bn from funds providedby the United States taxpayers to bail out AIG.

    On 12 June, 2009, Barclays sold its Global Investors unit, which includes itsexchange traded fund business, iShares, to BlackRockfor $13.5bn.

    Standard Life sold Standard Life Bank plc to Barclays plc in October 2009. Thesale completed on 1 January 2010.

    On 11 November, 2009, Barclays and First Data, a global technology provider ofinformation commerce, have entered into a agreement according to which Barclayswill migrate a range of card portfolios to First Data's issuing and consumer financeplatform.

    On February 13th 2010 Barclays announced it would pay more than $2 billion inbonuses.


    Constituents of the Barclays Group

    Barclays Bank PLC Mercers Debt Collection Agency Barclays Bank Delaware (formerly Barclaycard US, originally Juniper Bank,

    acquired 2003) Barclays Retail BankUK clearing bank Barclays Commercial BankDealing with medium and larger corporate

    businesses worldwide. Barclays WealthStockbrokers, Offshore and Private bank Barclays Private Clients International Ltd.subsidiary based in the Isle of

    Man with branches in the Channel Islands Barclays Private Equity BarclaycardGlobal credit card business Barclaycard USSeparate from the Barclaycard global operation, this is

    the corporation's US credit card operation (formerly known as "JuniperBank"). Issues branded credit cards such as US Airways, Midwest Airlines,
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    Frontier Airlines MasterCard, Airtran Airways Visa card, and Apple StoreVisa and MasterCard accounts.

    Barclays CapitalInvestment bank Barclays Global InvestorsInvestment management company Woolwich plcUK mortgage brand Barclays AfricaTo be transferred to ABSA (South Africa) Barclays Spain (550 branches)[52] Barclays Portugal (162 branches)[52] Barclays France Barclays Morocco Barclays Bank LLC (Russia) Barclays Pakistan Absa Group Limited (South Africa) Firstplus Financial Group PLC Barclays Partner Finance (formerly Clydesdale Financial Services) Barclays India Barclays Technologies Centre India PT Bank Barclays Indonesia, formerly known as PT Bank Akita (due to be

    rebranded Barclays Bank Indonesia)[53][54] Barclays Croatia

    Organisational structure

    Branch of Barclays in Westminster Barclays is headed by Marcus Agius, the

    Group Chairman, who joined the Board on 1 September 2006 and succeededMatthew Barrett as Chairman from 1 January 2007. Agius is also the seniorexecutive Director of the BBC and was formerly Chairman ofBAA PLC,Chairman of Lazard in London and a Deputy Chairman of Lazard LLC until 31December 2006.

    Reporting directly to the Group Chairman is John Varley, the Group ChiefExecutive, who is responsible for the strategic direction and planning of allBarclays operations. Varley was appointed to the role in September 2004 prior to

    which he served as Deputy Chief Executive (January-September 2004) and GroupFinance Director (2000-2003).

    The operating units of Barclays are grouped under two umbrellas; Corporate,Investment Banking and Investment Management (IB&IM) and Global RetailBanking (GRCB). IB&IM oversees three core operating units: Barclays Capital,Barclays Corporate and Barclays Wealth.
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    GRCB oversees multiple operating units. Principally it has responsibility for UKRetail Banking

    (UKRB), Barclaycard and International Retail Banking.

    Board of Directors

    Barclays is headed by Group Chief Executive John Varley. Within the GroupCEO's office are housed the central corporate functions of Human Resources,General Counsel, Corporate Affairs, Internal Audit and Group Chief of Staff. Thecompany has no COO or CIO. Paul Idzik, the former COO, completed anorganisational redesign that saw IT functions devolved to the core businessdivisions - Global Retail & Commercial Banking and Investment Banking - and,following completion Idzik resigned from his post.

    Serving alongside Mr. Varley on the Group's ExCo are:

    Chris Lucas - Group Finance Director Bob Diamond - President, Barclays PLC; CEO, Investment Management &

    Investment Banking Frederik (Frits) Seegers - CEO, Global Retail & Commercial Banking

    Also reporting to Mr. Varley and thus part of the senior management team:

    Group HR Director - Cathy Turner (also responsible for Group CorporateAffairs)

    Group General Counsel - Mark Harding Group Chief of Staff - Matt Hammerstein
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    Director of Internal Audit - Mark CarawanThe key business units and their CEOs are:

    UK Retail Banking - Deanna Oppenheimer UK Commercial Banking - Eduardo Eguren Barclaycard - Antony Jenkins Western Europe - Leo Salom Emerging Markets - Ahmed Kahn Wealth Management - Tom Kalaris Capital - Jerry del Missier

    The Board Members are:

    Marcus Agius - Chairman David Booth - Non Executive Director Sir Richard Broadbent - Senior Independent Director Leigh Clifford - Non Executive Director Fulvio Conti - Non Executive Director Professor Sir Andrew Likierman - Non Executive Director Sir Michael Rake - Non Executive Director Stephen Russell - Non Executive Director Sir John Sunderland - Non Executive Director Patience Wheatcroft - Non Executive Director Simon Fraser - Non Executive Director


    Barclays has over 1800 UK high street branches (including former Woolwichbranches) and it has also joined up with the Post Office Ltd to provide personalbanking services to customers who live near a Post Office branch and those whoneed financial services such as secured or unsecured loans.

    Worldwide, Barclays has over 4,750 branches in over 50 countries.[56]

    Most Barclays branches have 24/7 Cash machines. Barclays' customers andcustomers of many other banks can use Barclays ATMs free of charge.

    Barclays Capital is a strong investment arm owned by Barclays Bank PLC.Barclays Capital had created an investment funds business that handles billions ofpounds daily, iShares. After much debate, Barclays president Bob Diamond, along
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    with other Barclays bosses chose to sell the iShares business to further boostcapital. The preliminary price for the business is 3billion, although Barclays hasthe flexibility to sell at a higher price, should a bidder show interest before theselling deadline.

    Barclays is a member of the Global ATM Alliance.


    Barclays advertising on the side of a Leeds taxi.

    Since 2004, Barclays has sponsored the Premier League and, from 2006, theChurchill Cup. Barclays also sponsored the Football League from 1987 until 1993,succeedingToday newspaper and being replaced by Endsleigh Insurance. It alsosponsored the 2008 Dubai Tennis Championships. In 2009 it was the officialsponsor of the Tennis Masters Cup.

    Barclays is a major sponsor of professional golf tournaments worldwide, theBarclays Scottish Open on the European Tour at Loch Lomond since 2002, theBarclays Classic on the PGA Tour from 2005-2006, which became The Barclays in2007, the first of four playoff tournaments for the FedEx Cup, and since 2006Barclays has been title sponsor to the Singapore Open, the richest national open inAsia, and since 2009 has been co-sanctioned with the European Tour


    Involvement with South Africa under apartheid

    Barclays bank was known by many in the 1980s as 'Boerclaysbank', due to itscontinued involvement in South Africa during the Apartheid regime. A studentboycott of the bank led to a drop in its share of the UK student market from 27 percent to 15 per cent by the time it pulled out in 1986.
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    In 2006 a South African activist group, the Jubilee South Africa backed KhulumaniSupport Group, sought reparations from Barclays in addition to Citigroup, BP,Royal Dutch Shell, Ford, GM, and Deutsche Bankfor their roles indirectlysupporting the apartheid government in South Africa during the 1970s and 1980s.The legal proceedings are being heard at the Second Circuit Court of Appeals inNew York, and the South African Ministry of Justice is seeking dismissal of thecase on the grounds that it undermines its national sovereignty.[61]

    Financial support for the Mugabe regime in Zimbabwe

    Barclays helps to fund President Robert Mugabe's regime in Zimbabwe. The mostcontroversial of a set of loans provided by Barclays is the 30m it gives to helpsustain land reforms that saw Mugabe seize white-owned farmland and drive morethan 100,000 black workers from their homes. Opponents have called the bank's

    involvement a 'disgrace' and an 'insult' to the millions who have suffered humanrights abuses. Barclays spokesmen say the bank has had customers in Zimbabwefor decades and abandoning them now would make matters worse, 'We arecommitted to continuing to provide a service to those customers in what is clearlya difficult operating environment".

    Barclays also provides two of Mugabes associates with bank accounts, ignoringEuropean Union sanctions on Zimbabwe. The men are Elliot Manyika and ministerof public service Nicholas Goche. Barclays has defended its position by insistingthat the EU rules do not apply to its 67%-owned Zimbabwean subsidiary because it

    was incorporated outside the EU.

    Accusations of money laundering

    In March 2009, Barclays was accused of violating international anti-moneylaundering laws. According to the NGO Global Witness, the Paris branch ofBarclays held the account of Equatorial Guinean President Teodoro Obiang's son,Teodorin Obiang, even after evidence that Obiang had siphoned oil revenues fromgovernment funds emerged in 2004. According to Global Witness, Obiangpurchased a Ferrari and maintains a mansion in Malibu with the funds from this


    Senior management bonuses

    Main article: Bankers' bonuses,_California,_California
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    Robert Diamond, the US-born head ofBarclays Capital, was set to receive a14.8m bonus in 2008, as Barclays Capital made a profit of 2.3bn in the year,despite the subprime mortgage crisis in the US forcing the division to take a 1.6bnhit in 2007.

    Tax avoidance

    In March 2009 Barclays obtained an injunction againstThe Guardianto removefrom its website confidential leaked documents describing how SCM, Barclays'structured capital markets division, planned to use more than 11bn of loans tocreate hundreds of millions of pounds of tax benefits, via "an elaborate circuit ofCayman Islands companies, US partnerships and Luxembourg subsidiaries". In aneditorial on the issue, the Guardian pointed out that, due to the mismatch ofresources, tax-collectors (HMRC) have now to rely on websites such as Wikileaks

    to obtain such documents, and indeed the documents in question have nowappeared on Wikileaks Separately, another Barclays whistleblower revealedseveral days later that the SCM transactions had produced between 900m and1bn in tax avoidance in one year, adding that "The deals start with tax and thencommercial purpose is added to them."

    Links to the arms trade

    In December 2008 the British anti-poverty charity War on Want released a reportdocumenting the extent to which Barclays and other UK commercial banks invest

    in, provide banking services for and make loans to arms companies. The charitywrites in its report that Barclays is the world's largest arms investor, holding 7.3billion in shares in the arms manufacturers. The report also details Barclays'dealings with known producers ofcluster munitions and depleted uranium.

    Share Price Information for Barclays (BARC)

    Share Price: 355.25 Bid: 355.00 Ask: 355.25 Change: -4.15 (-1.15%)



    Spread as %:








    Yesterdays Close:

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    Receive an annual report for BARCLAYS.


    Barclays is listed in the FTSE 100, FTSE All-Share, FTSE 350

    Barclays is part of the Banks sector

    Intraday Barclays Share Chart

    Barclays Share Price


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    -1.15% -4.15







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    3 Month Barclays Share Graph

    SEDOL Currency Issue Country Shares in Issue Market Capitalisation

    3134865 GBX GB 12,039.85m 42,771.56m
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    52 Week High 390.00 52 Week High Date 15-OCT-2009

    52 Week Low 101.30 52 Week Low Date 20-MAR-2009





    Vol Sold Vol




    Earnings Dividend Yield

    15,000 617 1,653,459 1,060,372 15.650 22.70 1.00 0.28

    London South East Users info for Barclays

    Users who watch BARC also watch: Royal Bank Scot, Lloyds Grp., Tesco

    Users who hold BARC also hold: Lloyds Grp., Royal Bank Scot, Taylor Wimpey,

    Bt Group, Provexis

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    Barclays Capital's dedicated Global Finance and Risk
  • 7/31/2019 Fina Project Barclays


    Solutions group provides you with access to the expertise andexperience of all our financing and risk solutions productteams. These include Equity Capital Markets, Debt CapitalMarkets, Leveraged Finance, Loans and Risk Solutions.Mergers and Acquisitions

    Barclays Capital's specialist M&A group delivers worldwidestrategic advisory services, giving you the entire spectrum ofstrategic alternatives including acquisitions, divestitures,restructurings, leveraged buyouts, takeover defence, specialcommittee assignments and exclusive sales.Restructuring

    Barclays Capital's Restructuring and Finance group can

    provide you with full-service restructuring expertise, includingfinancing and traditional restructuring advisory services. Ourfull range of services can address the complete spectrum ofcorporate distress and recovery.

    By Steve Slater and Myles Neligan

    LONDON (Reuters) - Barclays, the country's third biggest bank by market value,said on Thursday its first-quarter financial performance was well ahead of the same

    period last year as its chairman survived a protest vote against his re-election.

    Barclays said 16.3 percent of shareholders who voted were against the re-election

    of Marcus Agius as chairman. Including abstentions, the protest vote was just over

    17 percent.

    Investors slammed Agius last November for a controversial 7 billion pound

    fundraising by the bank, which sidestepped their traditional pre-emption rights andoffered more favourable investment terms to two big Middle East investors.

    Agius acknowledged the fundraising has strained relations with shareholders, and

    expressed "sincere regret" for losses incurred by investors during the past year.
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    A sharp rally by Barclays shares in recent weeks took the sting out of the investor

    backlash, however. All other board members were comfortably re-elected at the

    annual shareholder meeting and 95 percent of investors approved the bank's

    remuneration report.

    Barclays Chief Executive John Varley told investors the bank, which bought

    Lehman Brothers' U.S. operations last year, had had a strong start to the year.

    That backed up broadly positive quarterly results from U.S. and European peers,

    including Credit Suisse which posted a $1.7 billion (1.1 billion pounds) net profit

    on Thursday, beating expectations.

    "In the first quarter of 2009 our financial performance is well ahead of the prior

    year period, meaning that we've made good profits, and generated equity as aresult," Varley said

    The bank said it intends to resume paying dividends early next year, covering thefinal quarter of 2009. It cancelled its final dividend for 2008 in order to conservecapital as the global banking crisis unfolded.

    The financial industry was past the mid-point of the crisis, said Bob Diamond,

    president of the bank and head of investment bank arm Barclays Capital.

    "I think we're past the worst, but we'll be in a period of recovery for 9 to 18months," he told reporters after the AGM.


    BarCap had benefited from higher market share and volume and improved spreadsin rates, foreign exchange and commodities, Diamond said, but declined to providespecifics ahead of a detailed quarterly results due out on May 7.

    Varley said 2009 will remain difficult and warned payouts to shareholders wouldbe "significantly lower" than the 50 percent of profits typically handed over inrecent years.

    Barclays also said it planned to increase lending to UK businesses and consumersby 11 billion pounds in 2009, an increase of 6 percent on last year. The newlending will be evenly divided between mortgage and business loans.

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    Barclays shares were down 0.5 percent at 217 pence by 4:15 p.m., in line with aslightly lower FTSE 100 share index.

    "On current trading, to say Q1 was well ahead on last year is a positive," Fox-Pitt,Kelton analyst Leigh Goodwin said

    The bank's shares crashed to a 22-year low of 47.3 pence in January, but have sincesoared as regulators said its capital position was adequate and it improved tradingprompted a rethink among investors.

    Over 1,000 shareholders attended the meeting, requiring the bank to use anoverflow room.

    Some voiced anger about November's fundraising, but most supportedmanagement for avoiding selling a stake to the UK government, unlike rivalsRoyal Bank of Scotland and Lloyds Banking Group.

    "I don't think existing shareholders were that keen on taking shares last autumn,whereas the Middle Eastern investors were," said small shareholder James Boston.

    "I think the board has done very much better than the other banks," he said

  • 7/31/2019 Fina Project Barclays



  • 7/31/2019 Fina Project Barclays