HomeFinance NewsFinanceBarclays Soars to New Heights as Investors Rejoice over Epic Overhaul!

Barclays Soars to New Heights as Investors Rejoice over Epic Overhaul!


Barclays jumps 8.6% after announcing major strategic overhaul


Barclays, a British bank, has reported a loss in the final quarter of 2023.

In response, they’ve announced major changes to their operations.

They’re planning to cut costs, sell some assets, and reorganize their business divisions.

To make shareholders happy, they’ll give back £10 billion over the next three years.

The bank had lower profits for the year, and they had to take a hit this last quarter to cover costs for their restructuring.

Their main focus, which is corporate and investment banking, hasn’t been performing as well recently.

However, Barclays is aiming to return to profit by 2026, with a target of reducing risk and increasing efficiency.

Experts believe these goals are challenging, considering how the market has been performing.

  • Overall sentiment: neutral
  • Positive

    “Barclays on Tuesday reported a fourth-quarter net loss of £111 million ($139.8 million) as the British lender announced an extensive strategic overhaul, boosting its shares more than 8.6% through the day.”

    “On Tuesday, the bank announced a huge operational restructure, including substantial cost cuts, asset sales and a reorganization of its business divisions.”


    “Barclays took a £900 million hit in the fourth quarter from structural cost-cutting measures, which are expected to result in gross cost savings of around £500 million this year, with an expected payback period of less than two years.”

    “Credit impairment charges were £552 million, up from £498 million in the fourth quarter of 2022.”

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