Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Barclays PLC
  6. News
  7. Summary
    BARC   GB0031348658

BARCLAYS PLC

(BARC)
  Report
Delayed London Stock Exchange  -  11:35 2022-12-02 am EST
156.82 GBX   -0.92%
12/02Tech Down on November Jobs Report -- Tech Roundup
DJ
12/02Sector Update: Financial Stocks Trim Early Losses Friday Afternoon
MT
12/02Sector Update: Consumer Stocks Get Afternoon Boost, Lifting Staples to Positive Ground
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Investment banks' trading revenue likely to shrink, Barclays boss says

09/20/2022 | 12:20pm EST
The logo of Barclays bank is seen on glass lamps outside of a branch of the bank in the City of London financial district in London

LONDON (Reuters) - Investment banks are likely to be hit by a dip in trading revenue next year and will be counting on a bounce back in advisory fees to support their finances, Barclays' CEO C.S. Venkatakrishnan told an investor event on Tuesday.

A trading surge has helped investment banks report robust results this year and helped to offset a dire year for fees on company flotations and M&A deals amid global market turbulence.

That could be set to change by the second half of next year, Barclays CEO said.

"Trading revenue pools will probably shrink a bit and investment banking revenue pools will probably rise. Whether they offset each other I don't know," Venkatakrishnan - known internally at Barclays as Venkat - said at a Bank of America event.

"But I anticipate volatility in the markets continuing at least in the first and second quarter of next year. And so the declining trading revenue pools seasonally adjusted is more likely to happen in the second half of next year."

Venkat said a flurry of interest rate rises in Britain - Barclays' home market - with another rise expected from the Bank of England this week, could have "the effect of cooling the economy".

But he said he still expected rate rises to be "a net positive" for Barclays as it boosts income from lending. He said he expected all the bank's three main business units to exceed 10% return on tangible equity - a key measure of profitability for banks - next year.

Venkat also provided an update on an error that resulted in the bank overselling a range of complex financial instruments in breach of U.S. rules.

The bank will provide more details on the final costs of its so-called rescission offer to buy back the securities in "relatively short order", Venkat said.

Barclays said last week that investors had submitted claims for $7 billion out of $17.7 billion worth of securities it sold in error, under the terms of the rescission offer by which the bank had to buy back the notes and compensate buyers.

(Reporting by Sinead Cruise and Iain Withers, Editing by Jane Merriman)

By Sinead Cruise and Iain Withers


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BANK OF AMERICA CORPORATION -1.29% 36.08 Delayed Quote.-18.90%
BARCLAYS PLC -0.92% 156.82 Delayed Quote.-16.14%
All news about BARCLAYS PLC
12/02Tech Down on November Jobs Report -- Tech Roundup
DJ
12/02Sector Update: Financial Stocks Trim Early Losses Friday Afternoon
MT
12/02Sector Update: Consumer Stocks Get Afternoon Boost, Lifting Staples to Pos..
MT
12/02Sector Update: Consumer Staples Stocks Back Near Even in Recent Trade
MT
12/02Sector Update: Financial Stocks Drifting Lower Friday Afternoon
MT
12/02Is the job report good or bad news?
MS
12/02Barclays Adjusts Price Target on Stryker to $257 From $239, Maintains Overweight Rating
MT
12/02Barclays Adjusts Price Target on S&P Global to $425 From $385, Maintains Overweight Rat..
MT
12/02Barclays Adjusts Price Target on SecureWorks to $9 From $11, Maintains Underweight Rati..
MT
12/02Barclays Adjusts Price Target on Victoria's Secret to $51 From $50, Maintains Overweigh..
MT
More news
Analyst Recommendations on BARCLAYS PLC
More recommendations
Financials
Sales 2022 25 117 M 30 766 M 30 766 M
Net income 2022 4 992 M 6 115 M 6 115 M
Net Debt 2022 - - -
P/E ratio 2022 5,31x
Yield 2022 4,58%
Capitalization 24 876 M 30 471 M 30 471 M
Capi. / Sales 2022 0,99x
Capi. / Sales 2023 0,95x
Nbr of Employees 81 600
Free-Float 99,7%
Chart BARCLAYS PLC
Duration : Period :
Barclays PLC Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BARCLAYS PLC
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 156,82 GBX
Average target price 231,74 GBX
Spread / Average Target 47,8%
EPS Revisions
Managers and Directors
C. S. Venkatakrishnan Group Chief Executive Officer & Director
Angela Anna Cross Group Finance Director & Executive Director
Nigel Paul Higgins Group Chairman
Mark Ashton Rigby Group Chief Operating Officer
Laura Padovani Global Head-Compliance Services
Sector and Competitors
1st jan.Capi. (M$)
BARCLAYS PLC-16.14%30 471
JPMORGAN CHASE & CO.-13.96%396 452
BANK OF AMERICA CORPORATION-18.90%289 449
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED-13.18%205 449
WELLS FARGO & COMPANY-4.25%175 054
CHINA CONSTRUCTION BANK CORPORATION-13.70%151 407