Page 23 - Flip Banks TG

Barclays is a British banking company Barclays is based out

of England’s capital, London, and is said to own assets worth

over 1.3 trillion USD in total.

2016 saw the environment for Barclays and all other banks

change as new regulatory capital rules were introduced by

the UK government. In addition, a new 8 percent surcharge

on bank profits came into force in January 2016 which
contributed to the major decision by Barclays to sell down

its Africa shareholding in 2016 and plan for a future exit.

Like other banks Barclays also had to contend with Brexit

uncertainty and the economic implications it is likely to have

capital, regulation and EU operations. Nevertheless, the

bank remains a strong brand anchored in a 300-year history

of trading, geographic diversification, strong market

leadership in core markets and advanced technological

capabilities. However, legacy conduct issues remain an issue

and have some way to go before they play out.

The divesture of Barclay’s African operations helped

improve its core return and make Barclays a smaller, better

capitalised and less leveraged operation firmly focused on

its core markets of the US and UK.