Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBarclays Share News (BARC)

Share Price Information for Barclays (BARC)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 215.00
Bid: 215.45
Ask: 215.55
Change: -4.20 (-1.92%)
Spread: 0.10 (0.046%)
Open: 218.65
High: 219.05
Low: 215.00
Prev. Close: 219.20
BARC Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Britain's finance minister Hunt to quiz bank bosses on UK lending

Thu, 18th Jan 2024 14:33

LONDON, Jan 18 (Reuters) - Britain's finance minister Jeremy Hunt will meet the bosses of top British banks next Tuesday to seek reassurance they can keep lending to the economy, four sources familiar with the matter said on Thursday.

HSBC, Barclays, Lloyds Banking Group , NatWest Group and Santander UK are expected to take part in the meeting, Sky News reported earlier.

"They meet regularly and discuss lots of issues - as you'd expect," one of the sources told Reuters.

"They're fairly relaxed and unstructured meetings."

NatWest, Santander and Barclays declined to comment, while HSBC and Lloyds did not immediately respond to Reuters' request for comment.

In a bid to bolster London's competitiveness as a global financial centre post-Brexit, the Treasury has set out a series of reforms and is regularly meeting with members of the financial industry to gauge effectiveness of those plans, one source with direct knowledge told Reuters.

Sky News said the meeting will also include the London Stock Exchange as it battles against New York to attract company listings. LSEG did not immediately respond to a Reuters request for comment.

Further reforms to boost investment are expected from Hunt when he presents his budget in March, and the government typically sounds out market participants ahead of such events.

Sky said Tuesday's meeting would discuss concerns over the valuations of some banks, which have seen their share prices retreat in recent months.

Barclays shares, for example, have lost around 22% in value in the last 12 months, compared with a 8.5% drop in the FTSE 350 banking index and a 4% decline in the FTSE 100.

Two industry sources played down the idea that the drop in UK bank share prices had motivated the Chancellor to convene the meeting, or that this had had a direct bearing on banks' appetite to lend into Britain's economy.

One of those sources rejected any suggestion banks were failing to meet demand to borrow due to weakened share prices.

But lower share prices do have implications for shareholder returns, analysts have pointed out, meaning bank bosses could be tempted to channel greater proportions of capital into investor payouts or stock buybacks rather than loans or mortgages.

The Bank of England has repeatedly said that Britain's banks were capitalised well enough to keep lending to households and businesses. (Reporting by Andrew MacAskill, Sinead Cruise, Elizabeth Piper and Huw Jones. Editing by Jane Merriman)

More News
31 May 2024 08:34

UK competition watchdog probes Nationwide-Virgin Money deal

May 31 (Reuters) - Britain's competition regulator said on Friday it had started a probe into Nationwide Building Society's proposed 2.9 billion pound ($3.7 billion) all-cash deal to buy Virgin Money UK.

Read more
24 May 2024 16:45

Danske Bank and Barclays chop ECB rate cut forecasts

LONDON, May 24 (Reuters) - Danske Bank said on Friday it expects the European Central Bank only to cut interest rates twice this year, not three times, while Barclays also scrapped a call for a July reduction.

Read more
24 May 2024 08:52

TOP NEWS: Coventry Building Society buys Co-Op Bank for GBP780 million

(Alliance News) - Coventry Building Society on Friday said it has agreed to buy Co-operative Bank Holdings PLC for GBP780 million in cash, in the latest shift in the UK's banking landscape.

Read more
21 May 2024 10:47

UK Libor trader Hayes given route to appeal rate-rigging conviction at Supreme Court

LONDON, May 21 (Reuters) - Tom Hayes, the first trader jailed worldwide for interest rate rigging, was on Tuesday refused permission to appeal against his conviction at the United Kingdom's Supreme Court, but was given a potential route to clear his name.

Read more
21 May 2024 10:00

LONDON BROKER RATINGS: UBS lifts Schroders; Barclays likes Wise

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and on Monday:

Read more
17 May 2024 21:33

IN BRIEF: Barclays intends to fully redeem EUR750 million notes

Barclays PLC - London-based bank - Intends to fully redeem all of the outstanding EUR750 million 0.75% reset notes due 2025 on June 9. The outstanding notes will be redeemed on the redemption date at a price equal to 100% of their principal amount plus accrued but unpaid interest from, and including, June 9 last year.

Read more
16 May 2024 13:05

Activists disrupt Lloyds Bank shareholder meeting

LONDON, May 16 (Reuters) - Activists disrupted Lloyds Banking Group's annual shareholder meeting in Glasgow on Thursday, protesting against the bank's alleged provision of financial services to defence firms linked to violence in the Middle East.

Read more
16 May 2024 11:16

Activists disrupt Lloyds Bank shareholder meeting

LONDON, May 16 (Reuters) -

Read more
13 May 2024 10:51

Barclays promotes Chiapparoli EMEA co-head for industrials, names new Italy CEO

MILAN, May 13 (Reuters) - British bank Barclays on Monday said it had appointed Enrico Chiapparoli as co-head of industrials for Europe, Middle East and Africa (EMEA), leaving his post as Italy chief executive to Paolo De Luca.

Read more
10 May 2024 11:17

JPMorgan still positive on UK banks despite potential rate cuts

(Sharecast News) - JPMorgan has said that dovish comments from the Bank of England this week don't alter its constructive view on UK banking stocks, even if interest rates do fall more sharply than markets are currently pricing in.

Read more
9 May 2024 12:08

Barclays AGM disrupted by activists protesting over Gaza

LONDON, May 9 (Reuters) - Barclays' annual shareholder meeting was disrupted by activists protesting against its alleged indirect links to violence in Gaza, with the bank's chair telling security staff to eject them from the event in Glasgow on Thursday.

Read more
9 May 2024 09:53

LONDON BROKER RATINGS: NatWest target raised, other lenders backed

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

Read more
8 May 2024 16:45

UK watchdog considers redress scheme after motor finance probe

LONDON, May 8 (Reuters) - Britain's financial watchdog said on Wednesday it was considering a formal redress scheme to compensate thousands of consumers that were potentially overcharged for motor finance.

Read more
7 May 2024 07:00

Race for Europe's first 'real-time' stock trade tape heats up

LONDON, May 7 (Reuters) - Banks and asset managers are vying with Europe’s exchanges to develop technology that can deepen the pool of investors in the continent’s capital markets and better compete with Wall Street.

Read more
4 May 2024 08:37

Norway wealth fund to back Barclays CEO, chair at AGM

OSLO, May 4 (Reuters) - Norway's $1.6 trillion sovereign wealth fund, one of the world's largest investors, supports the reappointment of Barclays CEO C.S. Venkatakrishnan and Chair Nigel Higgins to the British bank's board, the fund manager said on Saturday.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.