Page 25 - Barclays Bank (B)

2016: A Pivotal Year

Barclays has operations in retail, wealth management,

corporate lending, credit cards and mortgages. It

currently operates its business via two divisions-Barclays

UK and Barclays International. Revenues for the year

ending 31 December 2016 were approximately £22 billion

on operating profits of £2.8 billion (1).

January, 2016 saw the introduction of new regulatory

capital rules as well as the introduction of a new 8

percent surcharge on bank profits. This surcharge was

especially demanding if a bank had an overseas

subsidiary, such as Barclays’ African subsidiary - Barclays

Africa Group Limited.

“The banking industry in the UK has continued
implementation of measures to meet structural

reform requirements, which include the

requirement to ring-fence certain activities” (3)

Background to structural reform

“The global financial crisis revealed the need for

fundamental changes to how banks are run. In
response, the Government developed

legislation to require UK banks to separate the

provision of core retail services from other