Tag: $Barclays

Barclays is selling its German consumer finance business to Austrian bank BAWAG Group AG for a small premium to net assets, it said on Thursday, as the British lender aims to simplify its business.

 Barclays on Thursday reported first-quarter net income attributable to shareholders of £1.55 billion ($1.93 billion), beating expectations.

Capital One agreed to buy Discover Financial in a $35 billion all-stock deal that will combine two of the nation’s largest credit-card companies to create a global payments giant.

 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 5% in early trade.

LONDON, Dec 5 (Reuters) – Barclays shares fell in early trading on Tuesday after one of the bank’s largest shareholders Qatar Holding moved to sell around 510 million pounds ($644 million) of its stock, cutting back on its crisis-era investment in the bank.

Barclays CEO C.S. Venkatakrishnan said the bank “continued to manage credit well, remained disciplined on costs and maintained a strong capital position” against a “mixed market backdrop.”

A British union that represents workers at Barclays  said on Tuesday that the bank was cutting around 450 staff, as the lender cuts costs as it weighs a wider strategy overhaul.

Barclays said Thursday that it expects to earn less interest in its U.K. division, as analysts flagged the bank’s “modestly disappointing” set of results.