Barclays(BCS)

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Barclays(BCS) - 2022 Q4 - Earnings Call Transcript
2023-02-15 15:06
Barclays PLC (NYSE:BCS) Q4 2022 Earnings Conference Call February 15, 2023 4:30 AM ET Company Participants C.S. Venkatakrishnan - Group CEO & Director Anna Cross - Group Finance Director & Director Conference Call Participants Joseph Dickerson - Jefferies Omar Keenan - Crédit Suisse Alvaro Serrano - Morgan Stanley Jason Napier - UBS Jonathan Pierce - Numis Securities Christopher Cant - Bernstein Autonomous Martin Leitgeb - Goldman Sachs Group Benjamin Toms - RBC Capital Markets Guy Stebbings - BNP Paribas E ...
Barclays(BCS) - 2022 Q4 - Annual Report
2023-02-14 16:00
SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 20-F ¨ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended 31 December 2022 ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________to _______________ ¨ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE ...
Barclays(BCS) - 2022 Q4 - Annual Report
2023-02-14 16:00
Barclays PLC (Name of Registrant) February 15, 2023 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 1 Churchill Place London E14 5HP England (Address of Principal Executive Office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. This Report on Form 6-K is filed by Barclays PLC. This Report comprises: ...
Barclays(BCS) - 2022 Q3 - Earnings Call Transcript
2022-10-26 20:26
Barclays PLC (NYSE:BCS) Q3 2022 Results Conference Call October 26, 2022 4:30 AM ET Company Participants CS Venkatakrishnan - Group Chief Executive Anna Cross - Group Finance Director Conference Call Participants Alvaro Serrano - Morgan Stanley Joseph Dickerson - Jefferies Jonathan Pierce - Numis Rohith Chandra-Rajan - Bank of America Omar Keenan - Credit Suisse Chris Cant - Autonomous Martin Leitgeb - Goldman Sachs Edward Firth - KBW Guy Stebbings - BNP Paribas Exane Adam Terelak - Mediobanca Rob Noble - D ...
Barclays PLC (BCS) CEO C. S. Venkatakrishnan on Half Year 2022 Results - Earnings Call Transcript
2022-07-29 08:12
Barclays PLC Q2 2022 Earnings Conference Call Summary Company Overview - **Company**: Barclays PLC (NYSE: BCS) - **Date of Call**: July 28, 2022 - **Participants**: C. S. Venkatakrishnan (Group Chief Executive), Anna Cross (Group Finance Director), and various analysts from major financial institutions Key Financial Highlights - **Profit Before Tax**: £3.7 billion for the first half of 2022, with an attributable profit of £2.5 billion [3] - **Group Income**: £13.2 billion, up 10% year-on-year, excluding hedging benefits related to over-issuance [3] - **Return on Tangible Equity (RoTE)**: 10.1% for the first half, with Q2 RoTE at 8.7% [3][7] - **CET1 Ratio**: 13.6%, comfortably within the target range of 13-14% [4][20] - **Dividend**: Half-year dividend of 2.25p per share announced, alongside a share buyback of up to £0.5 billion [4][41] Over-Issuance of Securities - **Impact**: The over-issuance of securities under US shelf registration statements resulted in a net impact of approximately £580 million for the first half [5][6] - **Rescission Offer**: Terms agreed for affected customers, effective August 1, with ongoing engagement with the SEC [5][19] Business Performance - **Income Growth**: - Barclays UK: Up 6% - Consumer Cards and Payments: Up 29% - Corporate and Investment Bank (CIB): Up 10% (excluding over-issuance impact) [8][9] - **FICC Performance**: Strong performance in Fixed Income, Currency, and Commodities (FICC) with a 52% year-on-year increase in income [8] - **Transaction Banking**: Growth driven by increased economic activity and rising interest rates [9][22] Cost Management - **Operating Costs**: Increased by 3% year-on-year, with a focus on managing costs amid inflationary pressures [20][26] - **Cost-Income Ratio**: Improved to 62% excluding over-issuance charges, with a target of below 60% in the medium term [27] - **Investment in Growth**: Continued investment in strategic priorities, including the acquisition of the Gap US credit card portfolio and Kensington Mortgages [13][30] Macroeconomic Environment - **Economic Uncertainty**: Barclays remains vigilant regarding potential economic downturns, with a focus on supporting customers facing rising living costs [10][11] - **Impairment Charges**: Net charge of £200 million for the quarter, with stable delinquency rates and a total impairment allowance of £6.0 billion [31][32] Strategic Initiatives - **Sustainable Finance**: Acted as lead manager on significant green bond transactions, reinforcing Barclays' position in sustainable finance [15] - **Digital Transformation**: Continued enhancements to the Barclays mobile app, with over 10 million users and significant self-service capabilities [14] Analyst Questions and Responses - **Revenue Momentum**: Barclays maintains a target of greater than 10% RoTE for the year, citing broad-based revenue growth across all business lines [44][46] - **Cost Trajectory for 2023**: Focus on operating leverage and selective investments, with expectations for lower litigation and conduct charges next year [48][50] Conclusion - **Overall Performance**: Strong first half of 2022 with broad-based income growth, robust capital position, and a commitment to returning capital to shareholders [40][41] - **Outlook**: Confidence in continued revenue momentum and readiness for potential macroeconomic challenges [40][41]
Barclays(BCS) - 2022 Q1 - Earnings Call Transcript
2022-04-28 13:16
Barclays PLC (NYSE:BCS) Q1 2022 Earnings Conference Call April 28, 2022 4:30 AM ET Company Participants C.S. Venkatakrishnan - Group Chief Executive Anna Cross - Group Finance Director Conference Call Participants Jonathan Pierce - Numis Joseph Dickerson - Jefferies Rohith Chandra-Rajan - Bank of America Merrill Lynch Alvaro Serrano - Morgan Stanley Chris Cant - Autonomous Omar Keenan - Credit Suisse Ed Firth - KBW Martin Leitgeb - Goldman Sachs Operator Welcome to Barclays Q1 '22 Analysts and Investor Conf ...