Barclays PLC (LON:BARC) (LSE:BARC.L) has a P/E of 17.8 using 2016’s EPS. In my view, this can be justified by investors because of the double-digit EPS growth forecast in FY2017 and FY2018. Barclays has a strategy which I believe could be good news for its share price. I like its continued focus on financial strength and in reorganising the bank in order to become more financially flexible in the long run. I also feel the banking sector could be undervalued, which may lift the Barclays share price in the long term.
DUBAI (Reuters) - Barclays aims to increase its share of the euro clearing business in the Middle East and North Africa region (MENA) from low double-digits to 25 percent in the next three years, a senior Barclays executive said, capitalising on growing demand from companies for transactions in euros.
Barclays is already one of the largest clearers of transactions in sterling and has stepped up efforts in euro clearing in the past few years.
"It is about gaining market share in the euro clearing right now," KP Sunil Rao, director of the financial institutions group in MENA, said. "We are in lower double digit. I think it could increase to 25 percent market share, hopefully in the next three years."
Rao also said the bank had reassured clients in the region that the bank would retain the capacity to clear euros after Brexit.
In Britain, there is uncertainty over whether London will be able to clear euros after Brexit but big British banks like Barclays will continue to be able to clear euros through their offices in the euro zone.
Clearing is the process of settling transactions between banks and is big business for large global lenders.
Barclays' share of the sterling clearing business within its targeted countries in MENA has risen to 40 percent from 9 percent in 2009, a time when some other British banks such as Royal Bank of Scotland and Lloyds Banking Group have scaled back in the region.
Some international banks have cut correspondent banking ties to lenders in the region as they seek to shed risks.
"We have 40 percent of the market share for sterling clearing and our market share for euro clearing is growing, so we have not backed away from this region," David Scola, global head of financial institutions at Barclays, said.
Barclays last year trimmed nearly 150 staff from its corporate banking arm in Dubai as part of a wide-ranging restructuring following the appointment of Jes Staley as chief executive in December 2015.
Me and my big mouth! Managed to sell a few as it looked like a sell off when the Dow opened - 218 for the bounce? I think this will still grind up throughout the summer as long as Trump isn't impeached!
The top five places in the global investment banking league table now firmly belong to U.S. banks, according to industry analytics firm Coalition, reflecting their domination over struggling European peers. • The gap has widened consistently since 2011, when the U.S.-European split was roughly 50-50. • American banks now take in around a two-thirds share of the investment banking revenue pie. • Tickers by scores: JPM, C, GS, BAC, MS, DB, BCS, CS, HSBC
MarketClub’s Trade Triangles for BCS long term up The long term trend has been UP since Oct 27th, 2016 at 9.339900 intermediate term up The intermediate term trend has been UP since Mar 21st, 2017 at 11.520000 short term up The short term trend has been UP since Mar 16th, 2017 at 11.300000
Smart Scan Analysis for BCS Based on a pre-defined weighted trend formula for chart analysis, BCS scored +90 on a scale from -100 (strong downtrend) to +100 (strong uptrend).
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