Barclays slashed its workforce by around 5,000 jobs in 2023 as part of a major cost-cutting drive announced last year, the bank said Monday.The majority of the cuts fell in Barclays Execution Services, the bank’s support unit, the lender said, confirming for the first time Reuters reporting from last November that the lender was eyeing thousands of cuts in that division.“Barclays removed approximately 5,000 headcount globally through 2023 as part of its ongoing efficiency program designed to simplify and re ...

The Barclays Bank logo on 5th of October 2023 in Ashford, United Kingdom. Barclays Bank is a British ... [+] multinational banking and financial services organisation and major retail and commercial bank in the United Kingdom. (photo by Andrew Aitchison / In pictures via Getty Images)In Pictures via Getty ImagesBarclays’ stock (NYSE: BCS) has gained 1% YTD, as compared to the 2% drop in the S&P500 over the same period. Further, it is currently trading at $8 per share, which is 9% below its fair value of jus ...

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NEW YORK--(BUSINESS WIRE)--Barclays today announces the appointment of Ryan Voegeli as Head of Investment Banking for Canada. Mr. Voegeli will be based in Toronto. Mr. Voegeli has twenty years of investment banking experience, and joins Barclays from CIBC Capital Markets where he was Head of Global Diversified Industries Investment Banking. In this role he led a highly successful team spanning Toronto, Montreal, Winnipeg, Vancouver, Chicago and San Francisco. Prior to joining CIBC in 2011, Mr. Voegeli wa ...

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Barclays PLC (NYSE:BCS) Q3 2023 Earnings Conference Call October 24, 2023 4:30 AM ET Company Participants C.S. Venkatakrishnan - Group CEO & Executive Director Anna Cross - Group Finance Director & Executive Director Conference Call Participants Jason Napier - from UBS Operator Welcome to Barclays Q3 2023 Results Analyst and Investor Conference Call. I will now hand over to C.S. Venkatakrishnan, Group Chief Executive, before I hand over to Anna Cross, the Groups Finance Director. C.S. Venkatakrishnan Good m ...

Financial Performance - Group return on equity (RoE) for Q3 2023 was 9.3% and return on tangible equity (RoTE) was 11.0%[14] - Profit before tax for Q3 2023 was £1.9 billion, a decrease from £2.0 billion in Q3 2022[18] - Group income increased by 5% year-on-year to £6.3 billion in Q3 2023[18] - Group profit before tax increased by 13% to £6,447 million, compared to £5,702 million in the previous year[22] - Profit before tax increased 10% to £4,580m, with a return on equity (RoE) of 11.1%[32] - Barclays Group's profit before tax for Q3 2023 was £1,885 million, a decrease of 4% from £1,964 million in Q2 2023[53] - Barclays Group reported an attributable profit of £1,274 million for Q3 2023, a decrease of 4.1% from £1,328 million in Q2 2023[141] - Profit after tax for the nine months ended 30 September 2023 was £5,151 million, an increase from £4,385 million in the previous period, representing a growth of 17.5%[131] Income and Revenue - Barclays UK income decreased by 2% to £1.9 billion, primarily due to the transfer of Wealth Management & Investments to Consumer, Cards and Payments[18] - Corporate and Investment Bank (CIB) income rose by 9% to £3.1 billion in Q3 2023[18] - Consumer, Cards and Payments (CC&P) income increased by 9% to £1.4 billion, benefiting from higher balances in US cards[18] - Group income rose by 3% year-on-year to £19,780 million, driven by higher interest rates and increased balances in US cards[28] - Total income increased to £14,164m, with Corporate and Investment Banking (CIB) income decreasing 5% to £10,220m[32] - Barclays UK reported total income of £1,873 million in Q323, a decrease of 4.5% from £1,961 million in Q223[56] - Barclays International achieved total income of £4,442 million in Q323, slightly up from £4,440 million in Q223[58] - The Consumer, Cards and Payments segment generated total income of £1,360 million in Q3 2023, an increase of 6.4% from £1,278 million in Q2 2023[63] Operating Expenses - Total operating expenses decreased by 10% to £4.0 billion in Q3 2023[18] - Total operating expenses decreased by 6% to £12,011 million, with litigation and conduct charges significantly reduced to £32 million from £1,518 million[22] - Total operating expenses decreased 8% to £8,559m, reflecting investment in the business[32] - Total operating expenses for the group were £12,011 million for the nine months ended September 30, 2023, a decrease from £12,727 million in the previous year, representing a reduction of 5.6%[135] Credit and Impairment Charges - Credit impairment charges were £0.4 billion, with a loan loss rate (LLR) of 42 basis points[18] - Credit impairment charges rose to £1,329 million, reflecting a loan loss rate (LLR) of 43 basis points[22] - Credit impairment charges for Barclays International rose by 71% to £1,037 million for the nine months ended September 30, 2023, compared to £527 million in the same period of 2022, reflecting a 97% increase[49] - Credit impairment charges for Barclays UK were £59 million in Q323, a decrease from £95 million in Q223[57] Capital and Ratios - Common Equity Tier 1 (CET1) ratio stood at 14.0% with risk-weighted assets (RWAs) of £341.9 billion[18] - The CET1 ratio increased to 14.0%, with CET1 capital rising by £1.1bn to £48.0bn[35] - The common equity tier 1 (CET1) ratio is expected to remain within the target range of 13-14%[28] - The Group's CET1 capital increased by £1.1 billion to £48.0 billion as of September 30, 2023, compared to £46.9 billion in December 2022[115] - The Group's overall capital requirement for CET1 is 11.8%, which includes a 4.5% Pillar 1 minimum and a 2.5% Capital Conservation Buffer[103] Assets and Liabilities - Total assets increased to £1,591.7 billion, driven by increased trading activity within Corporate and Investment Banking[28] - The total assets of Barclays Group increased to £1,591.7 billion as of September 30, 2023, compared to £1,549.7 billion at the end of Q2 2023[53] - Total liabilities rose to £1,522,746m as of September 30, 2023, compared to £1,444,439m at the end of 2022[129] Shareholder Information - The tangible net asset value per share increased to £316 as of September 30, 2023, up from £295 as of December 31, 2022[149] - The share price of Barclays PLC as of September 30, 2023, was 158.94 pence, an increase from 144.30 pence a year earlier, reflecting a growth of approximately 9.7%[1] - The number of shares outstanding for Barclays PLC was 15,239 million as of September 30, 2023, down from 15,871 million a year prior, indicating a reduction of about 4%[1] Economic Outlook - The Baseline scenario indicates that GDP growth remains weak, with UK and US unemployment rates expected to peak at 4.5% and 4.4% respectively in 2024[88] - Central banks are expected to continue raising interest rates, with the UK bank rate and US federal funds rate reaching peaks of 6.0% and 5.5% respectively during 2023[88] - UK GDP is projected to grow by 0.4% in 2023, with a forecast of 1.4% in 2025 and 2.0% in 2026[94] - The UK house price index (HPI) is projected to decline by 5.8% in 2023, with a recovery expected to 7.3% growth by 2027 in the Baseline scenario[94] Regulatory and Compliance - The MREL requirement, excluding the PRA buffer, was to hold £101.1 billion of own funds and eligible liabilities, equating to 29.6% of RWAs[113] - The Group's leverage ratio requirement is 4.1%, which includes a minimum requirement of 3.25% and additional buffers[107] - Barclays Group faces capital risk due to insufficient capital levels to support normal business activities and regulatory requirements[198]

Barclays PLC Q2 2023 Results Presentation i ii iii C.S. Venkatakrishnan Anna Cross Appendix: Financials Group CEO Group Finance Director Performance in line with targets Shareholder Distributions & Income Statement Balance Sheet Q223 H123 2.7p £750m Income £6.3bn £13.5bn H123 dividend H123 share buyback ...

ID: Call Start: 04:30 January 1, 0000 5:55 AM ET Barclays PLC (NYSE:BCS) Q2 2023 Earnings Conference Call July 27, 2023, 04:30 ET Company Participants C.S. Venkatakrishnan - Group CEO & Executive Director Anna Cross - Group Finance Director & Executive Director Conference Call Participants Joseph Dickerson - Jefferies Jason Napier - UBS Jonathan Pierce - Numis Alvaro Serrano - Morgan Stanley Robin Down - HSBC Christopher Cant - Autonomous Edward Firth - KBW Adam Terelak - Mediobanca Guy Stebbings - BNP Pari ...