Barclays (BCS 12.05%) stock made big gains Tuesday, ending the trading session up 11.7%, according to data from S&P Global Market Intelligence.The British banking and financial services company announced its fourth-quarter results before the market opened, reporting earnings that fell short of Wall Street's target. It posted a net loss of roughly 111 million pounds (roughly $140.1 million) on sales of 5.6 billion pounds (roughly $7.07 billion). The average analyst estimate had called for it to post a profit ...

Barclays PLC (NYSE:BCS) Q4 2023 Earnings Call Transcript Q4 2023 Earnings Conference Call February 20, 2024 3:30 AM ET Company Participants C.S. Venkatakrishnan - Chief Executive Officer Anna Cross - Group Finance Director Adeel Khan - Co-Head of Global Markets, Trading Denny Nealon - Chief Executive Officer, US Consumer Bank Vim Maru - Chief Executive Officer, Barclays UK Conference Call Participants Alvaro Serrano - Morgan Stanley Joe Dickerson - Jefferies Guy Stebbings - BNP Paribas Exane Ben Toms - RBC ...

Key TakeawaysBarclays announced a shake-up to its operations and announced billions in cost cuts, as well as stock buybacks.The bank will now be divided into five divisions, including a U.S. consumer bank unit.Barclays plans to reduce expenses by $2.53 billion and repurchase at least $12.66 billion in shares by 2026.American Depositary Receipts (ADRs) of Barclays Plc (BCS) soared on Tuesday as the U.K.-based bank announced a major restructuring as well as plans to slash costs and return billions to sharehol ...

Barclays (BCS) reported a fourth-quarter 2023 adjusted net income attributable to ordinary equity holders of £628 million ($779.7 million). This excluded structural cost actions pre-tax charges of £927 million.Shares of the company jumped almost 7.4% in pre-market trading following the earnings release as investors cheered the business structural overhaul plan and medium-term financial targets.The company recorded lower revenues, along with a rise in credit impairment charges. Operating expenses increased i ...

FY 2023 Results Announcement Delivering against guidance Barclays FY 2023 Results 2 February 2024 Achieved guidance Strong balance sheet Enabled increased across metrics and earnings shareholder distributions 10.6%1 13.8% 8.0p RoTE (target: >10%) CET1 ratio FY23 dividend per share (target: 13-14%) (up 0.75p YoY) 63%1 331p £1.75bn CIR (guidance: low 60s%) ...

Large UK lenders have been criticized once again for offering low rates on their easy access savings accounts. According to Moneyfacts, Barclays PLC, HSBC Holdings PLC, Lloyds Banking Group PLC, NatWest Group PLC, and Banco Santander all offer gross rates of below 2% on savings worth £10,000 in flexible accounts. “Despite the continued focus on passing on interest rates to savers, the big five banks are still yet to make their easy access rates more competitive in relation to the rest of the market,” Moneyf ...

Barclays on Tuesday outlined plans to restructure its business with a view to cutting its costs by £2 billion over the next two years and boosting its returns to shareholders, with a view to paying out £10 billion in share buybacks and dividends between now and 2026.  In a bid to lift its sliding share price, the British bank’s plans will see it restructure itself into five new segments over the next three years – including a U.K. bank, a U.S. consumer bank, a U.K corporate bank, an investment bank, and a p ...

New cost-cutting measures at Barclays PLC (LSE:BARC), aimed at delivering annual savings of £2bn, could result in 17,000 job losses. Analysts at research house Third Bridge estimate a 20% reduction in headcount would be required to achieve the figure being touted. The high street lender currently employs around 85,000 people. Third Bridge believes the cull "would not impact day-to-day operations", and adds: "Previous cost reduction programmes have not been executed effectively, in some part due to its polit ...

Barclays PLC (LSE:BARC) has unveiled a corporate overhaul, £2bn of cost cuts and a £10bn capital return as it looks to enliven the company's sluggish operational and financial performance as part of a new three-year plan. According to chief executive CS Venkatakrishnan, the initiatives are also aimed at "driving higher returns, and predictable, attractive shareholder distributions". In its results statement, Barclays wants to reduce its cost-to-income ratio from its current 63% to the 'high 50s', which mean ...

LONDON - Nov. 5, 2020: Fog shrouds the Canary Wharf business district including global financial institutions Citigroup Inc., State Street Corp., Barclays Plc, HSBC Holdings Plc and the commercial office block No. 1 Canada Square.LONDON — Barclays on Tuesday reported a fourth-quarter net loss of £111 million ($139.8 million) as the British lender announced an extensive strategic overhaul.Analysts polled by Reuters had expected net profit attributable to shareholders of £60.95 million for the quarter, accord ...