RE: RE: buy backs21 Feb 2019 10:15
Gino banks should in the long run trade above their tnav or something is very wrong. One could argue that Barclays has been so long below tnav that the shareholders would be better off if it sold it assets and returned tier1 capital to shareholders. Currently the markets values the efforts of Barclays workers/management at around minus 18 billion if you look at mcap (27bn) Vs tnav (45bn). Remarkably the bod still get bonuses for this value destruction, good work if you can get it.