'We operate in 16 countries already, and therefore adding the UK to it, and beginning a chapter in the European continent is the next step.'
Agius, who served as the Barclays chairman for the past six years, would stay in his position until a succession plan is in place.
Barclays customers would now be able to access all the information about the bank and its products and services besides downloading account opening forms in seven languages -- English, Hindi, Marathi, Gujarati, Tamil, Telugu and Kannada. Barclays Bank Plc's Global Retail and Commercial Banking, managing director, India and Indian Ocean, Samir Bhatia, said: "Barclays is committed to offering services that make banking easy and accessible to all."
A British brokerage on Tuesday cut India's FY22 GDP growth estimate by a sharp 0.80 per cent to 9.2 per cent, saying the economic impact of the second wave of infections has been deeper than initially expected. Barclays chief India economist Rahul Bajoria also mentioned the slow pace of vaccinations in the country and the rolling lockdowns across many states for the estimate. It can be noted that last month has seen a slew of similar forecasts from analysts, even as the RBI maintained its estimate of a 10.5 per cent growth in real GDP.
Global rating agency Moody's said the decision to change the outlook on 'Barclays's C-/ baa2 standalone rating to negative from stable' reflects concerns over resignations of seniors and the consequent uncertainty surrounding the firm's direction, which are negative for bondholders.
Financial services major Barclays is to reduce its headcount by about 2,100 in investment banking and money management, as part of its cost cutting measures.The company is cutting 1,300 people from Barclays Capital, the debt-focused investment banking business, 500 from the Barclays Wealth private banking arm, and 330 in asset management business Barclays Global Investors. Overall, the cuts amount to 7 per cent of the three divisions' staff.
Newly-elected ICC Chairman Jay Shah on Tuesday said he will look to ensure that Test cricket forms the "bedrock" of the game in his tenure during which he will also try to "dismantle barriers that have hindered cricket's progress".
Jay Shah will take over as the next chairman of the ICC in December after he emerged as the sole nominee for the high-profile job
Barclays will infuse an additional equity capital of $50 million to the Indian arm, Barclays India. This marks the second round of capital infusion since the first injection of $50 million in the first quarter of 2002.
The Reserve Bank of India is likely to announce a "gradual" exit from its easy money stance and may resort to raising key rates to squeeze out excess liquidity from markets in its forthcoming review meeting, investment banking firm Barclays Capital says.
Barclays, a global financial services provider, announced the launch of 'Hello Money', a mobile banking service for its customers. The service will enable Barclays' customers access banking services anytime/anywhere on-the-move through mobile phones.Barclays customers can now perform account enquiries and financial transactions by simply dialling *598*1#. They can carry out secure banking transactions like fund transfers, bill payments, requests and other banking services.
Lord's, the 'home of cricket', will host its first-ever Women's Test between India and England in 2026, the ECB announced on Thursday.
With concern on food inflation ebbing with the monsoon progressing well, the Reserve Bank of India (RBI) is warming up to the idea of a change in stance to "neutral" from "withdrawal of accommodation", according to economists. In his speech on Thursday during the annual event of the Federation of Indian Chambers of Commerce and Industry-Indian Banks' Association, RBI Governor Shaktikanta Das said: "The balance between inflation and growth is well-poised."
The new members, Jitesh Gadhia, Marc Holtzman, Simon Hargreaves, Jason Rynbeck and Frank Hancock, would report to Barclays European Investment Banking and Debt Capital Markets' head John Winter, Barclays said in Mumbai on Tuesday. "The appointments will significantly enhance our ability to advise our clients on corporate strategy, divestitures and acquisitions with particular focus on clients in high growth markets in Asia, Central and Eastern Europe and West Asia."
Barclays further said there is increased momentum in announcements of equity offerings in public sector units, 'which suggests upside risks to our estimate of fiscal divestment proceeds of Rs 25000 crore in the next fiscal,
Bars FII from issuing offshore derivative instruments on grounds of rules violation.
With around 2,000 jobs on the line at its troubled investment banking unit here, Barclays is believed to have dispatched a team to recruit and train new staff in India to replace workers in both London and New York, according to The Independent.
We are focusing on how to make banking affordable for the customer. The bank is bullish on retail business, says Suresh Gurumani.
The pay rise at Barclays Capital is expected to be backdated to June this year as the bank looks to compensate its staff following the bonus crackdown.
BlackRock Inc has executed a purchase agreement to acquire Barclays Global Investors, including its market leading ETF platform, iShares, from Barclays Plc, the company said. The transaction would create an independent and fully integrated asset management firm named 'BlackRock Global Investors' with combined assets under management of over $2.7 trillion, bringing together market leaders in active and index strategies.
Mango is a UK-registered charity and the partnership is across Barclays GRCB's emerging market entities.
"The slump in activity in emerging Asia is over. We believe the region returned to positive growth of the aggregate level in the first quarter of 2009 -- driven by China and India -- and the recovery is broadening to the more open industrial economies in 2009," Barclays Capital, an investment banking arm of Barclays, said.
Barclays Plc on Tuesday said its chief executive officer Bob Diamond has resigned with immediate effect after increasing pressure to step down following global interest rate manipulation scandal.
Emerging market currencies including Indian rupee are likely to remain under pressure, though depreciation is expected to slow from here, Barclays said in a research report.
As per the outsourcing partnership agreement, Firstsource would manage Barclays' operations center in Colorado Springs and would provide customer care and collection support to its US cardholders, Firstsource Solutions said in a filing to the Bombay Stock Exchange.
The Indian economy is likely to benefit from tailwinds from both monetary and fiscal policy in the coming month
HDFC and Barclays Bank on Monday announced they will exit their joint venture Intelenet Global Services by selling stakes to SKR BPO Services, co-owned by Blackstone GVP Capital and Intelenet management, for an undisclosed amount.
Barclays Bank on Thursday launched its retail and commercial banking service in India. So far, the bank operated in the country through Barclays Capital, its investment division.
According to the financial services firm, India's growth pattern remains skewed towards the services sector and is heavily dependent on domestic consumption, which it said, raises the possibility that the imbalance between the services and other sectors may widen even further.
Shah said the board will speak to the ICC about hosting the World Test Championship final at a different venue from 2027. The first two editions of Test cricket's summit clash have been organised in England, including the one for the current 2023-25 cycle.
As part of its expansion drive in the high-potential Indian financial services market, Barclays Bank plans to pick up a 10 per cent stake in asset reconstruction company, ARCIL, from domestic banking major ICICI Bank.\n\n
On India strategy, Barclay said it would continue to grow the business in the same way as it has been growing in the last 5 years.
Barclays is not alone in trying to decide the best size and shape of its investment bank in a changed regulatory landscape.
Barclays and BNP Paribas are considering the acquisition of Lehman Brothers' investment banking and brokerage businesses in India.
The group had earmarked $400-million to fund its expansion in the private banking business globally, two years back. The group has already hired 57 professionals for its Indian operations and plans to enhance the staff strength to nearly 100 within the next six months.
The move would result in around 25-30 job cuts.
Referring to rise in bond yield after the RBI mid-term policy review, wherein it had cut repo rate by an expected 25 basis points, the report said the market interpretation of the RBI statement as hawkish with concerns raised on the resumption of bond supplies in April, are overdone.
At a time when most foreign banks in India are looking at opening more branches, British lender Barclays has decided to close three of its nine branches in the country.
Barclays said Indian equities have had a strong first half.
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