Barclays has posted a disappointing set of results for the second quarter of 2013 and set aside a further £2bn relating to PPI mis-selling.
Barclays will shore up its capital position via a rights issue to raise £5.8bn to achieve a 3% Leverage Ratio target by June 2014 The 3%figure was introduced by the Bank of England’s Prudential Regulation Authority (PRA) in June 2013. Barclays came up short with a 2.2% Leverage Ratio.
Go deeper with GlobalData
Barclays chief executive Antony Jenkins said "As a consequence of the PRA’s review we have had to modify our capital plans, in order to meet the 3% leverage ratio target by June 2014. After careful consideration of the options, the Board and I have determined that Barclays should respond quickly and decisively to meet this new target. We have developed a bold but balanced plan to do so."
Barclays’ UK retail unit posted pre-tax profits for the three months to 30 June of £333m, down 7.5% from the year ago quarter.
Barclaycard pre-tax profits rose by 1.9% y-o-y to £412m.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataRelated articles
Barclays to sell customers data from autumn 2013
Barclays H1 pre-tax profits rise
