Barclays Share Discussion Threads

[diku] 29/10/2015 09:38

They moved on from attacking the Oils to Banks now...UK banks are now back to August lows....while the Dow is close to all time highs lead by a handful of mega caps....price/index action completely broken...

[diku] 29/10/2015 09:31

bookbroker....post 113258....that is the easy part...CV intact....what did Hester do at RBS?....

[portside1] 29/10/2015 09:31

they will not answer e mails will not answer phones to speak to any one no one
available all on sick leave ?

[portside1] 29/10/2015 09:29

BARCS as not sacked one crook from the bank not clawed back any bonuses
yet the bank is full of crooks investors have had two fingers put up from
the directors. the bank of crooks

[smurfy2001] 29/10/2015 09:26

Damn :(

Wasn't expecting such a markdown.

[portside1] 29/10/2015 09:16

KEN WHEN A LADY OF ABILITY TELLS THE WORLD SHE DOES NOT RATE THE MAN AND WORKED WITH HIM IT SPEAKS VOLUMES

[kenbachelor] 29/10/2015 09:00

Down 4.5% - I didn't think the results were that bad!

[bookbroker] 29/10/2015 08:54

This co. would be better being broken up, the sum of the parts have for too long being worth more than its market valuation, the core UK bank can then operate as a stand alone entity!

[maximillian1] 29/10/2015 08:26

Watch out for a + 10 close at 256 imo

[portside1] 29/10/2015 08:17

ken. 8 years and still giving out more bad news .we can now see why the announcement yesterday to take the light of the failing directors milking the company . the chairmans statement is terrible is he a clown

[portside1] 29/10/2015 08:13

the lady ho worked with mc and said he was not that good was correct said he
used others to get were he was and if their was no one to use he would do nothing he bank of lars and crooks

[johnwise] 29/10/2015 08:12

Barclays third-quarter profit declines on settlement costs

Third-quarter adjusted pre-tax profit slid to £1.43bn from £1.59bn in the same period last year, missing the average forecast of £1.65bn from analysts polled by the company, as revenue declined to £6.11bn from £6.38 in 2014.

Statutory pre-tax profit fell to £861m from £1.22bn in the third quarter of 2014.




Wall Street Journal
Barclays Third-Quarter Profit Disappoints
U.K. lender raises cost expectations, a day after appointment of Jes Staley as CEO

[portside1] 29/10/2015 08:05

my thoughts were correct bread today jam next year perhaps
reading about the new ceo just a job for a friend not ability
Barclays under mc is not for holders

[johnwise] 29/10/2015 07:54

Barclays’ new boss attempts to dispel fears that he plans to bring back aggressive, casino culture of Bob Diamond


Barclays’s Chief Jes Staley Sends First Memo to Staff

Staley will start on December 1. In a memo sent yesterday to the bank’s 134,000 staff he promised to ‘complete the cultural transformation of the group’. He added he would continue a drive to instill better ethics, saying there ‘can be no retreat from becoming a values- driven organisation which conducts itself with integrity at all times.’

[mj19] 29/10/2015 07:44

Barclays announced 9-month results: "4% growth in Group adjusted profit before tax to £5,156m (...) Profit before tax in the Core business improved 7% to £6,005m (...) Group capital and leverage metrics remained above the 2016 targets, with the fully loaded common equity tier 1 (CET1) ratio at 11.1% (30 June 2015: 11.1%) and the leverage ratio increasing to 4.2% (30 June 2015: 4.1%)."

[portside1] 29/10/2015 07:44

the only targets barcs reach is its bonuses and salaries overpaid for failure

[portside1] 29/10/2015 07:32

well my thoughts were correct flat .but looking a lot better going forward next year should see a great improvement

[druid2] 29/10/2015 07:03

BARCLAYS PLC, 1 CHURCHILL PLACE, LONDON, E14 5HP, UNITED KINGDOM. TELEPHONE: [phone]. COMPANY NO. 48839

Notes

The term Barclays or Group refers to Barclays PLC together with its subsidiaries. Unless otherwise stated, the income statement analysis compares the nine months to 30 September 2015 to the corresponding nine months of 2014 and balance sheet analysis as at 30 September 2015 with comparatives relating to 30 June 2015. The abbreviations 'GBPm' and 'GBPbn' represent millions and thousands of millions of Pounds Sterling respectively; and the abbreviations '$m' and '$bn' represent millions and thousands of millions of US Dollars respectively.

Comparatives pre Q214 have been restated to reflect the implementation of the Group structure changes and the reallocation of elements of the Head Office results under the revised business structure. These restatements were detailed in our announcement on 10 July 2014, accessible at www.barclays.com/barclays-investor-relations/results-and-reports.

References throughout this document to 'provisions for ongoing investigations and litigation including Foreign Exchange' means 'provisions held for certain aspects of ongoing investigations involving certain authorities and litigation including Foreign Exchange.'

Adjusted profit before tax, adjusted attributable profit and adjusted performance metrics have been presented to provide a more consistent basis for comparing business performance between periods. Adjusting items are considered to be significant but not representative of the underlying business performance. Items excluded from the adjusted measures are: the impact of own credit; goodwill impairment; provisions for UK customer redress; gain on US Lehman acquisition assets; provisions for ongoing investigations and litigation including Foreign Exchange; losses on sale relating to the Spanish and Portuguese businesses; Education, Social Housing, and Local Authority (ESHLA) valuation revision; and gain on valuation of a component of the defined retirement benefit liability. As management reviews adjusting items at a Group level, results by business are presented excluding these items. The reconciliation of adjusted to statutory performance is done at a Group level only.

Relevant terms that are used in this document but are not defined under applicable regulatory guidance or International Financial Reporting Standards (IFRS) are explained in the Results glossary that can be accessed at www.barclays.com/results.

The information in this announcement, which was approved by the Board of Directors on 28 October 2015 does not comprise statutory accounts within the meaning of Section 434 of the Companies Act 2006. Statutory accounts for the year ended 31 December 2014, which included certain information required for the Joint Annual Report on Form 20-F of Barclays PLC and Barclays Bank PLC to the US Securities and Exchange Commission (SEC) and which contained an unqualified audit report under Section 495 of the Companies Act 2006 (which did not make any statements under Section 498 of the Companies Act 2006) have been delivered to the Registrar of Companies in accordance with Section 441 of the Companies Act 2006.

These results will be furnished as a Form 6-K to the SEC as soon as practicable following their publication. Once furnished with the SEC, copies of the Form 6-K will also be available from the Barclays Investor Relations website www.barclays.com/investorrelations and from the SEC's website at www.sec.gov.

Barclays is a frequent issuer in the debt capital markets and regularly meets with investors via formal road-shows and other ad hoc meetings. Consistent with its usual practice, Barclays expects that from time to time over the coming quarter it will meet with investors globally to discuss these results and other matters relating to the Group.

Forward-looking statements

This document contains certain forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and Section 27A of the US Securities Act of 1933, as amended, with respect to the Group. Barclays cautions readers that no forward-looking statement is a guarantee of future performance and that actual results or other financial condition or performance measures could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as 'may', 'will', 'seek', 'continue', 'aim', 'anticipate', 'target', 'projected', 'expect', 'estimate', 'intend', 'plan', 'goal', 'believe', 'achieve' or other words of similar meaning. Examples of forward-looking statements include, among others, statements regarding the Group's future financial position, income growth, assets, impairment charges and provisions, business strategy, capital, leverage and other regulatory ratios, payment of dividends (including dividend pay-out ratios), projected levels of growth in the banking and financial markets, projected costs or savings, original and revised commitments and targets in connection with the strategic cost programme and the Group Strategy Update, rundown of assets and businesses within Barclays Non-Core, estimates of capital expenditures and plans and objectives for future operations, projected employee numbers and other statements that are not historical fact. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. These may be affected by changes in legislation, the development of standards and interpretations under International Financial Reporting Standards, evolving practices with regard to the interpretation and application of accounting and regulatory standards, the outcome of current and future legal proceedings and regulatory investigations, future levels of conduct provisions, the policies and actions of governmental and regulatory authorities, geopolitical risks and the impact of competition. In addition, factors including (but not limited to) the following may have an effect: capital, leverage and other regulatory rules (including with regard to the future structure of the Group) applicable to past, current and future periods; UK, US, Africa, Eurozone and global macroeconomic and business conditions; the effects of continued volatility in credit markets; market related risks such as changes in interest rates and foreign exchange rates; effects of changes in valuation of credit market exposures; changes in valuation of issued securities; volatility in capital markets; changes in credit ratings of any entities within the Group or any securities issued by such entities; the potential for one or more countries exiting the Eurozone; the implementation of the strategic cost programme; and the success of future acquisitions, disposals and other strategic transactions. A number of these influences and factors are beyond the Group's control. As a result, the Group's actual future results, dividend payments, and capital and leverage ratios may differ materially from the plans, goals, and expectations set forth in the Group's forward-looking statements. Additional risks and factors which may impact the Group's future financial condition and performance are identified in our filings with the SEC (including, without limitation, our Annual Report on Form 20-F for the fiscal year ended 31 December 2014), which are available on the SEC's website at www.sec.gov.

Subject to our obligations under the applicable laws and regulations of the United Kingdom and the United States in relation to disclosure and ongoing information, we undertake no obligation to update publicly or revise any forward looking statements, whether as a result of new information, future events or otherwise.

Performance Highlights

Chairman's Review

"Today's results show another quarter of progress in our Core businesses alongside the early effects of some of the changes that we are making.

We are pleased that Jes Staley will join us on 1 December as Group Chief Executive Officer, earlier than expected, and we are in the final stage of appointing a Senior Independent Director and Deputy Chairman to replace Sir Mike Rake on his retirement from the Board in the near future.

As we align Barclays around our three priorities - focus on core (segments and markets), generating shareholder value, and instilling a high performance culture with strong ethical values - we now have a forward agenda that has been discussed and agreed with Mr. Staley.

We will update the market on our plans for structural reform after we have agreed them with the regulator.

Now that we have a new CEO in place, we will provide further updates on future direction at the full year results."

(MORE TO FOLLOW) Dow Jones Newswires

October 29, 2015 03:00 ET (07:00 GMT)

John McFarlane, Chairman


-- 4% growth in Group adjusted profit before tax to GBP5,156m was
achieved in the nine months to 30 September 2015, reflecting
improvements in all Core operating businesses. Group adjusted
return on average shareholders' equity increased to 7.1% (2014:
6.3%)
A 5% reduction in Group total adjusted operating expenses to
GBP12,465m and a 4% reduction in operating expenses excluding
costs to achieve to GBP11,926m were driven by savings from strategic
cost programmes
Profit before tax in the Core business improved 7% to GBP6,005m
with higher income and lower costs. Combined with the increase
in average allocated equity of GBP6bn to GBP47bn, this resulted
in a return on average equity for the Core business of 10.5%
(2014: 10.5%)
Rundown of the Non-Core business continued, with risk weighted
assets (RWAs) decreasing to GBP55bn (30 June 2015: GBP57bn).
The announced sale of the Portuguese retail business in Q315,
due to be completed in Q116, is expected to result in a further
GBP1.7bn reduction in Non-Core RWAs. Period end allocated equity
reduced to GBP9bn
Group capital and leverage metrics remained above the 2016 targets,
with the fully loaded common equity tier 1 (CET1) ratio at 11.1%
(30 June 2015: 11.1%) and the leverage ratio increasing to 4.2%
(30 June 2015: 4.1%)
Net tangible asset value per share increased to 289p (30 June
2015: 279p) driven by profit generated for the period and favourable
reserve movements
Statutory profit before tax increased 7% to GBP3,975m, which
reflected net losses on adjusting items of GBP1,181m (2014: GBP1,217m)
Significant Q315 adjusting items:
Additional provisions of GBP270m were made in Q315 relating to
the settlement of two residential mortgage backed securities
claims with the National Credit Union Administration and the
settlement of certain legacy benchmark litigation, taking the
total additional provisions for ongoing investigations and litigation
including Foreign Exchange in 2015 to GBP1,070m (2014: GBP500m)
Additional UK customer redress provisions of GBP290m were made
in Q315 as a result of an internal review relating to rates provided
to certain customers on foreign exchange transactions between
2005 and 2012, taking the total provisions for UK customer redress
in 2015 to GBP1,322m (2014: GBP910m). No additional Performance
Highlightsprovisions for PPI redress were made in Q315
A loss on sale of GBP201m was recognised in Q315 relating to
the announced sale of the Portuguese retail business within Non-Core,
which is due to complete in Q116. This is in addition to the
loss of GBP118m recognised in H115 relating to the sale of the
Spanish business
--- ------------------------------------------------------------------------


Barclays Group results Adjusted Statutory
============================= ================================
for the nine months ended 30.09.15 30.09.14 30.09.15 30.09.14
GBPm GBPm % Change GBPm GBPm % Change
=================================================== ========= ======== ======== ========== ========== ========
Total income net of insurance claims 19,090 19,710 (3) 20,191 20,267 -
Credit impairment charges and other provisions (1,468) (1,595) 8 (1,468) (1,595) 8
=================================================== ========= ======== ======== ========== ========== ========
Net operating income 17,622 18,115 (3) 18,723 18,672 -
Operating expenses (11,654) (12,051) 3 (11,228) (12,051) 7
Litigation and conduct (272) (309) 12 (2,664) (1,719) (55)
Operating expenses excluding costs to achieve (11,926) (12,360) 4 (13,892) (13,770) (1)
Costs to achieve (539) (826) 35 (539) (826) 35
=================================================== ========= ======== ======== ========== ========== ========
Total operating expenses (12,465) (13,186) 5 (14,431) (14,596) 1
Other net (expenses)/income (1) 10 (317) (354) 10
=================================================== ========= ======== ======== ========== ========== ========
Profit before tax 5,156 4,939 4 3,975 3,722 7
Tax charge(1) (1,481) (1,630) 9 (1,214) (1,496) 19
=================================================== ========= ======== ======== ========== ========== ========
Profit after tax 3,675 3,309 11 2,761 2,226 24
Non-controlling interests (495) (551) 10 (495) (551) 10
Other equity holders(2) (238) (170) (40) (238) (170) (40)
=================================================== ========= ======== ======== ========== ========== ========
Attributable profit 2,942 2,588 14 2,028 1,505 35

Performance measures
=================================================== ========= ======== ======== ========== ========== ========
Return on average tangible shareholders' equity(2) 8.3% 7.4% 5.8% 4.4%
Average tangible shareholders' equity (GBPbn) 48 47 48 47
Return on average shareholders' equity(2) 7.1% 6.3% 5.0% 3.8%
Average shareholders' equity (GBPbn) 56 55 56 54
Cost: income ratio 65% 67% 71% 72%
Loan loss rate (bps) 40 43 40 43

Basic earnings per share(2) 17.9p 16.1p 12.4p 9.4p
Dividend per share 3.0p 3.0p 3.0p 3.0p

Balance sheet and leverage 30.09.15 30.06.15
--------------------------------------------------- --------- -------- -------- ---------- ---------- --------
Net tangible asset value per share 289p 279p
Net asset value per share 337p 328p
Leverage exposure GBP1,141bn GBP1,139bn

Capital management 30.09.15 30.06.15
--------------------------------------------------- --------- -------- -------- ---------- ---------- --------
CRD IV fully loaded
Common equity tier 1 ratio 11.1% 11.1%
Common equity tier 1 capital GBP42.4bn GBP42.0bn
Tier 1 capital GBP47.9bn GBP46.5bn
Risk weighted assets GBP382bn GBP377bn
Leverage ratio 4.2% 4.1%

Funding and liquidity 30.09.15 30.06.15
--------------------------------------------------- --------- -------- -------- ---------- ---------- --------
Group liquidity pool GBP142bn GBP145bn
Estimated CRD IV liquidity coverage ratio 118% 121%
Loan: deposit ratio(3) 88% 88%

Adjusted profit reconciliation for the nine months ended 30.09.15 30.09.14
------------------------------------------------------------------------ -------- ---------- ---------- --------
Adjusted profit before tax 5,156 4,939
Own credit 605 96
Gain on US Lehman acquisition assets 496 461
Gain on valuation of a component of the defined retirement benefit liability 429 -
Provisions for UK customer redress (1,322) (910)
Provisions for ongoing investigations and litigation including Foreign Exchange (1,070) (500)
Losses on sale relating to the Spanish and Portuguese businesses (319) (364)
---------------------------------------------------------------------------------- ---------- ---------- --------
Statutory profit before tax 3,975 3,722


(MORE TO FOLLOW) Dow Jones Newswires

October 29, 2015 03:00 ET (07:00 GMT)

1 The effective tax rate for Q315 YTD is the expected full year rate adjusted for the impact
of significant one-off items. The tax impacts of such items, which include adjusting items
and the UK bank levy, are recognised in the period in which they occur.
2 The profit after tax attributable to other equity holders of GBP238m (Q314 YTD: GBP170m) is
offset by a tax credit recorded in reserves of GBP48m (Q314 YTD: GBP36m). The net amount of
GBP190m (Q314 YTD: GBP134m), along with non-controlling interests (NCI) is deducted from profit
after tax in order to calculate earnings per share, return on average tangible shareholders'
equity and return on average shareholders' equity.
3 Loan: deposit ratio for PCB, Barclaycard, Africa Banking and Non-Core retail.


Barclays Core and Non-Core results Barclays Core Barclays Non-Core
============================ ============================
for the nine months ended 30.09.15 30.09.14 30.09.15 30.09.14
GBPm GBPm % Change GBPm GBPm % Change
=============================================== ======== ======== ======== ======== ======== ========
Total income net of insurance claims 19,042 18,682 2 48 1,028 (95)
Credit impairment charges and other provisions (1,406) (1,429) 2 (62) (166) 63
=============================================== ======== ======== ======== ======== ======== ========
Net operating income/(expenses) 17,636 17,253 2 (14) 862
Operating expenses (10,985) (10,870) (1) (669) (1,181) 43
Litigation and conduct (153) (194) 21 (119) (115) (3)
Costs to achieve (494) (655) 25 (45) (171) 74
=============================================== ======== ======== ======== ======== ======== ========
Total operating expenses (11,632) (11,719) 1 (833) (1,467) 43
Other net income/(expenses) 1 53 (98) (2) (43) 95
=============================================== ======== ======== ======== ======== ======== ========
Profit/(loss) before tax 6,005 5,587 7 (849) (648) (31)
Tax (charge)/credit (1,693) (1,774) 5 212 144 47
=============================================== ======== ======== ======== ======== ======== ========
Profit/(loss) after tax 4,312 3,813 13 (637) (504) (26)
Non-controlling interests (448) (458) 2 (47) (93) 49
Other equity holders (192) (129) (49) (46) (41) (12)
=============================================== ======== ======== ======== ======== ======== ========
Attributable profit/(loss) 3,672 3,226 14 (730) (638) (14)

Performance measures
=============================================== ======== ======== ======== ======== ======== ========
Return on average tangible equity(1) 12.7% 12.8% (4.4%) (5.4%)
Average allocated tangible equity (GBPbn) 39 34 9 14
Return on average equity(1) 10.5% 10.5% (3.4%) (4.2%)
Average allocated equity (GBPbn) 47 41 9 14
Period end allocated equity (GBPbn) 48 44 9 12
Cost: income ratio 61% 63% n/m n/m
Loan loss rate (bps) 43 45 13 40
Basic earnings per share contribution 22.3p 20.0p (4.4p) (3.9p)

Capital management 30.09.15 30.06.15 30.09.15 30.06.15
=============================================== ======== ======== ======== ======== ======== ========
Risk weighted assets GBP327bn GBP320bn GBP55bn GBP57bn
Leverage exposure GBP989bn GBP973bn GBP152bn GBP166bn


Nine months ended Nine months ended
30.09.15 30.09.14
Income by business GBPm GBPm % Change
=============================== ================= ================= ========
Personal and Corporate Banking 6,564 6,597 (1)
Barclaycard 3,649 3,247 12
Africa Banking 2,719 2,701 1
Investment Bank 6,110 5,922 3
Head Office - 215
=============================== ================= ================= ========
Barclays Core 19,042 18,682 2
Barclays Non-Core 48 1,028 (95)
=============================== ================= ================= ========
Barclays Group adjusted income 19,090 19,710 (3)


Nine months ended Nine months ended
30.09.15 30.09.14
Profit/(loss) before tax by business GBPm GBPm % Change
========================================== ================= ================= ========
Personal and Corporate Banking 2,383 2,257 6
Barclaycard 1,303 1,126 16
Africa Banking 791 756 5
Investment Bank 1,757 1,342 31
Head Office (229) 106
========================================== ================= ================= ========
Barclays Core 6,005 5,587 7
Barclays Non-Core (849) (648) (31)
========================================== ================= ================= ========
Barclays Group adjusted profit before tax 5,156 4,939 4


1 Return on average equity and average tangible equity for Barclays Non-Core represents its
impact on the Group, being the difference between Barclays Group returns and Barclays Core
returns. This does not represent the return on average equity and average tangible equity
of the Non-Core business.

[reimomo] 29/10/2015 06:45

6 months too late, but thanks anyway MJ.

[mj19] 28/10/2015 23:16

Numis rates Barclays a 'buy' and forecasts Q115 statutory pre-tax profit of £1,101m (Q114 £1,812m and Q414 -£1,466m) after forecasting a further £500m PPI provision. For revenues, management has guided to broadly in line with Q114.