What is Barclays Bank? Barclays Bank Review

About Barclays Bank

Barclays Bank was founded in 1690 and is the oldest bank in the UK with a history of over 300 years. It is the first bank in the world to have an ATM machine. It issued the first credit card in the UK in 1966 and the first debit card in the UK in 1987. As of 2013, it had 140,000 employees worldwide. As of 2012, its total assets reached 1.49 trillion pounds, making it the seventh largest bank in the world and the second largest bank in the UK after HSBC. Barclays Bank operates in more than 50 countries around the world and has more than 2,100 branches in the UK.

Barclays Bank is a financial services company centered in the UK. Its main businesses are banking and investment. If measured by assets, Barclays Bank is one of the largest financial banks in the UK. Barclays Bank has branches in many other countries and is a multinational bank with great influence. Barclays Bank's business covers more than 60 countries, including all financial centers.

Business Introduction

Barclays Bank provides a range of services to individual customers and small business sectors in the UK and some group companies in Africa through bank branches, ATMs, and the Internet. In addition, Barclays Bank also provides wealth management services to wealthy people around the world, especially investment, asset evaluation, long-term financial planning and other businesses.

Main Services

Barclays Bank operates in two divisions: Barclays UK and Barclays International.

1. Personal and commercial banking services; credit and debit cards; international banking and private banking services, including investments, wealth planning, credit and specialty solutions for high net worth and ultra-high net worth clients and family offices.

2. Provide investment banking services to enterprises, governments and financial institutions, including financial advisory, financing, wealth and investment management, and financing and risk management services.

3. Engage in securities trading activities and issue credit cards.

Barclays in China

Barclays entered the Chinese market in the early 1970s. Its initial business was to arrange export credit financing for large equipment purchase projects. In the 1980s, it entered the corporate lending business. In the 1990s, it developed into project financing structures and bond capital markets. In 2005, Barclays opened a branch in Shanghai to provide financial services and risk management services to onshore customers. The Shanghai branch was approved to operate derivatives business in 2006. In July 2007, China Development Bank invested in Barclays Bank, holding a 3% stake. In September 2007, China Development Bank and Barclays formed a commodity strategic alliance to jointly develop China's commodity business.

Development

On April 23, 2007, Bakke Bank announced its plan to acquire ABN AMRO for 67 billion euros.

On July 23, 2007, China Development Bank and Temasek Holdings acquired shares in Buckley.

In November 2007, Barclays acquired the Bavarian bank Bayerische Landesbank.

On September 14, 2008, Buckeye Bank announced its withdrawal from the acquisition of the bankrupt Lehman Brothers. In the early morning of September 15, Lehman Brothers announced that it had filed for bankruptcy protection.

On June 12, 2009, Barclays Bank sold its investment arm Barclays Global Investors (BGI) to the US fund giant BlackRock for US$15.2 billion. BGI is now the world's largest asset management company with assets of US$15 trillion. After the merger of the two companies, the assets under management will be close to US$2.8 trillion.

BGI, the world's largest investment management company, is famous for its index-tracking products. Its flagship WiShart business has a market share of nearly 50% in the US exchange-traded fund (ETF) market.

On October 21, 2009, Qatar Holding, an investment company under the Middle East sovereign fund Qatar Investment Authority (QIA), announced that it would sell 379.2 million shares of British Bucks Bank through Credit Suisse.

On May 21, 2012, Barclays Bank sold all of its 19.6% stake in Lead Investment Bank for US$6.1 billion.

On December 6, 2012, South Africa's United Bank Group will spend US$2.1 billion to acquire the African business of its parent company, Barclays Bank.

On July 30, 2013, Barclays Bank raised funds through a rights issue at a ratio of 4 shares for 1, with a price of 185 pence per share, raising 5.8 billion pounds.

On December 23, 2014, Barclays Bank acquired a 50% stake in Spanish insurance joint venture CNP Barclays Vida y Pensiones from French CNP Insurance for 453 million euros.

On June 9, 2015, Barclays Bank sold its US wealth management business to US financial group Stifel for an undisclosed price.

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