Barclays Bank

(redirected from Barclays plc)
Also found in: Financial, Wikipedia.

Barclays Bank

 

one of the largest British joint-stock commercial (deposit) banks. One of the “Big Five.”

Barclays Bank arose as a private bank in the 17th century and became Barclay and Company in 1896. Since 1917, Barclays Bank has swallowed up over 80 other banks. It heads the Barclay bank group, which includes the subsidiary banks Barclays Bank (France) and Barclays Bank (Dominion, Colonial and Overseas), which has about 1,700 branches in Africa, the Middle East, Latin America, and elsewhere.

Barclays Bank collaborates with the major banks of Belgium, the USA, West Germany, and other countries. It is linked by personal ties with large military, machine-building, shipbuilding, metallurgical, chemical, and other concerns (such as the Vickers and Ford Motor firms), and major shipping and insurance companies. It handles all types of banking activity. The Barclay group has over 5,000 branches (putting it in first place among capitalist banks in number of branches), 3,400 of which are in England and Wales. In 1968, Barclays Bank merged with Britain’s sixth largest bank, Martins Bank. At the beginning of 1969, the consolidated bank had a joint-stock capital of £83.4 million, reserves of £86.1 million, a balance of £6 billion, deposits of £5.3 billion, loans of £2.7 billion, bills discounted of £300 million, and investments of £700 million.

M. IU. BORTNIK

References in periodicals archive ?
While Barclays Plc reported the highest number of problems in the past year, RBS/NatWest (LSE :RBS) had the most in the past three months.
We are excited because it is a new beginning and we are no longer restrained by the things Barclays PLC had designed at global level.
On May 5, 2016, Barclays PLC sold 103.6 million shares in Barclays Africa, reducing its shareholding to 50.1 percent.
This results in accounting deconsolidation of Barclays Africa from Barclays PLC.
At the beginning of the year, tensions were run- ning high in the head office of Barclays Africa Group (BAGL) in Johannesburg, with stories be- ing thrown around of banking giant Barclays PLC -- the multinational and systemically important bank registered in the UK -- planning on pulling out of Africa.
As the rumour mill churned, BAGL executives allegedly sent out a circular to all employees to allay concerns: in short, the notice assured employees that Barclays PLC, the bank that owns 62.3% of BAGL, would not be selling its shares in the group.
What are your thoughts on Barclays Plc's assertion that regulatory challenges led to its exit decision?
A total of 103,592,491 ordinary shares were sold at a price of ZAR 13,053 million, reducing the Barclays PLC stake in BAGL to 50.1%.
The target includes products like the Barclays US Aggregate Bond Index, which measures the performance of assets with a market value of USD16.7trn (EUR12.3trn), Reuters said.Country: UKSector: Banking/Financial ServicesTarget: Barclays Plc's index unitBuyer: MSCI Inc, Unnamed buyersVendor: Barclays Plc Type: DivestmentStatus: Speculation, Auction
UK-based Barclays Plc (LSE: BARC) is to buy back assets from Protium Finance LP, a fund that was set up by former Barclays Plc employees in 2009.
The avid City supporter, who is currently group vicechairman and executive director of Barclays plc, will take up the position, which carries an annual basic salary of pounds 700,000 from October 1.