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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Barclays Plc    BARC   GB0031348658

BARCLAYS PLC

(BARC)
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Real-time Estimate Quote. Real-time Estimate Cboe Europe - 09/23 11:36:30 am
93.375 GBX   +1.53%
11:00aBARCLAYS : partners with Propel to provide one million SMEs with speedy access to asset finance
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Barclays : to announce 'bad bank' next week - source

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04/30/2014 | 03:44am EDT
A logo of Barclays bank is seen outside a branch in Altrincham

(Reuters) - British bank Barclays Plc will next week announce the creation of a bad bank portfolio of assets it deems non-core that it intends to sell or run down as part of a streamlining of its investment bank, a person familiar with the matter said on Tuesday.

Last year, Barclays Chief Executive Antony Jenkins announced a portfolio of assets termed Exit Quadrant, that it aimed to get rid of; and these assets are likely to go in the non-core portfolio along with commodities assets following last week's decision by the bank to exit that business, the Financial Times said.

The source said the details had not been finalized and asked not to be named before the plan is announced on May 8.

There are 54 billion pounds ($90.97 billion) of assets in the Exit Quadrant portfolio.

The Financial Times, which first reported the plan to set up a so-called bad bank of assets, said it is also likely to house parts of Barclays' macro products unit, which includes the trading of interest rate-linked products, currencies and commodities, and some or all of Barclays' retail banking businesses in France, Italy, Spain and Portugal.

Barclays declined to comment.

Full details of assets to go in the non-core business will be released in a strategic update on May 8. The internal bad bank will be run by Eric Bommensath, the co-head of Barclay's investment bank.

The news comes hours after one of the British bank's top dealmakers quit as head of its Americas business, in another blow to Barclay's investment banking arm. The former Lehman Brothers banker's exit is likely to raise concern that some of his former Lehman colleagues will follow him out the door due to complaints about pay and the future plans for the business.

His departure coincides with pressure on Barclays Chief Executive Antony Jenkins to cut staff pay after shareholders last week rebelled against a decision to increase bonuses.

(Editing by Robin Pomeroy, Bernard Orr)

By Steve Slater and Richa Naidu

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Financials
Sales 2020 21 243 M 27 112 M 27 112 M
Net income 2020 644 M 822 M 822 M
Net Debt 2020 - - -
P/E ratio 2020 24,5x
Yield 2020 0,13%
Capitalization 15 953 M 20 319 M 20 360 M
Capi. / Sales 2020 0,75x
Capi. / Sales 2021 0,77x
Nbr of Employees 80 800
Free-Float 99,6%
Chart BARCLAYS PLC
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Technical analysis trends BARCLAYS PLC
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 142,68 GBX
Last Close Price 91,97 GBX
Spread / Highest target 156%
Spread / Average Target 55,1%
Spread / Lowest Target -20,6%
EPS Revisions
Managers
NameTitle
James Edward Staley Group Chief Executive Officer & Director
Nigel Paul Higgins Group Chairman
Mark Ashton Rigby Group Chief Operating Officer
Tushar Morzaria Group Finance Director & Executive Director
Timothy James Breedon Independent Non-Executive Director
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