Jul. 30, 2013, 3:00 AM
- Barclays (BCS): H1 pretax profit -17% to £3.59B. Statutory attributable profit £671M vs £148M a year earlier. Adjusted attributable profit -25% to £2.06B.
- To issue £5.8B in new shares in order to meet regulatory requirements to boost its capital, and will offer stockholders one new share for every four they own at 185 pence each, well below the bank's closing price of 309.05 pence yesterday.
- Barclays will also issue £2B of bonds that can be converted into shares or will be wiped out if the bank gets into difficulties. (PR)
- Sets aside another £1.35B for mis-selling Payment Protection Insurance and £650M for compensation related to interest-rate hedging products.
- Remain cautious about the environment, with the focus remaining on costs and capital.
- Q2 dividend 1 pence a share. (PR)
Feb. 12, 2013, 2:58 AM
More on Barclays (BCS) results and strategy review: Job cuts: 1,800 in Corporate & Investment Bank and 1,900 in Europe Retail and Business Banking. To lower cost base to £16.8B by 2015 from £18.5B. Targets ROE of above cost of equity in 2015, which is forecast to stay at current 11.5% level. "One-time" costs of implementing strategic plan will be £2.7B by 2015. Targets common equity tier 1 ratio of above 10.5% by 2015. Aims for dividend ratio of over 30% over time. (PR)| Feb. 12, 2013, 2:58 AM | 1 Comment