Barclays has announced a comprehensive three-year plan aimed at revitalizing its share price, which includes a significant cost reduction strategy and a commitment to return substantial capital to shareholders. The bank plans to cut costs by 2 billion pounds, including around 700 million pounds from Barclays UK and 700 million from its investment bank, and return £10Bln ($12.6 billion) to shareholders between 2024 and 2026. This strategy also involves investing in its high-performing UK retail bank. The move comes as Barclays seeks to address a decline in profits, with a reported 6% fall in annual profit to $8.3 billion. Additionally, Barclays has already returned £3 billion to shareholders in the last year through dividends and share buybacks, despite a decrease in profits from £7 billion to £6.6 billion.
WATCH: Barclays laid out a three-year plan to revive its flagging share price, including axing costs and returning $12.6 billion to shareholders. The strategy update came as it reported a 6% fall in annual profit to $8.3 billion https://t.co/hBOVFtv12b https://t.co/bYsBSUfaUD
Barclays laid out a three-year plan to revive its flagging share price, including axing costs and returning $12.6 billion to shareholders. The strategy update came as it reported a 6% fall in annual profit to $8.3 billion https://t.co/oOrv2p3wwD https://t.co/hiTCVJzBnu
Barclays maps uncertain route to a simpler, stronger future https://t.co/5hrtIYUSqE https://t.co/qH8OeVoDT3
WATCH: Barclays is on a mission to revive its struggling share price. The bank laid out major plans, including a cost-cut target of more than $2 billion https://t.co/hBOVFtvyRJ https://t.co/Dgkhe5CoSl
Barclays is on a mission to revive its struggling share price. The bank laid out major plans, including a cost-cut target of more than $2 billion https://t.co/oOrv2p3wwD https://t.co/52uyz2sHJo
⚠️ ANALYSIS-BARCLAYS MAPS UNCERTAIN ROUTE TO A SIMPLER, STRONGER FUTURE (Reuters) Barclays, unveiling its biggest revamp since 2016, sought to appease investors seeking a clearer route to less volatile returns. Yet the British lender's plan to dedicate fewer financial…
Barclays CEO C.S. Venkatakrishnan been reviewing his firm’s strategy. It turns out, pruning around the edges was enough https://t.co/CgOvk15cfg
New targets from UK bank Barclays to boost capital returns to shareholders rely on the same old stories - making @PaulJDavies skeptical https://t.co/N7lem8AbLB via @opinion
Barclays jumps after announcing plans to return £10 billion of capital to shareholders https://t.co/uu9Bt6XB4F
Barclays spent four hours unveiling its three-year plans for shedding costs and boosting revenue. At the end of the day, investors really only cared about one thing: capital returns. https://t.co/x8rntQEdME
Barclays $BCS $BARC laid out a three-year plan to revive its flagging share price, including axing 2 billion pounds of costs, returning $12.6 billion to shareholders and investing in its high-returning UK bank (Reuters)
WATCH: Barclays laid out a three-year plan to revive its flagging share price, including axing 2 billion pounds of costs, returning $12.6 billion to shareholders and investing in its high-returning UK bank https://t.co/hBOVFtvyRJ https://t.co/Cn2K3avfaZ
Barclays laid out a three-year plan to revive its flagging share price, including axing 2 billion pounds of costs, returning $12.6 billion to shareholders and investing in its high-returning UK bank https://t.co/oOrv2p44mb https://t.co/mZur1kx3ib
New targets from UK bank Barclays to boost capital returns to shareholders rely on the same old stories - making @PaulJDavies skeptical https://t.co/sAq2KemymJ
Barclays restructuring edition https://t.co/4muR0lDJDy https://t.co/nCy99qgzIB
A teardown of Barclays’ 2026 growth ambitions https://t.co/GKoRWCUAS0
Barclays reveals revival plan to woo investors as profits fall https://t.co/soqjtDuqnl
Barclays has announced a plan to return £10bn to shareholders over the next three years and rein in costs as the bank attempts to revive its languishing share price https://t.co/OU6BEGncXD
Barclays has handed £3 billion back to shareholders in the last year via dividends and share buybacks even though profits slipped from £7 billion to £6.6 billion https://t.co/cmBVysvK2m
Barclays plots £2billion cost-cutting overhaul following drop in profits https://t.co/cDbEGkTb33 #barclays
Barclays vows to cut costs by £2 billion and return £10 billion to shareholders https://t.co/60NEkQ0gCS
Barclays laid out a three-year plan to revive its flagging share price, including axing 2 billion pounds of costs, returning $12.6 billion to shareholders and investing in its high-returning UK retail bank https://t.co/EZatvsWIka
Barclays laid out a three-year plan to revive its flagging share price on Tuesday, including axing 2 billion pounds of costs, returning $12.6 billion to shareholders and investing in its high-returning UK retail bank https://t.co/9RDh6sur86
Barclays laid out a three-year plan to revive its flagging share price on Tuesday, including axing 2 billion pounds of costs, returning $12.6 billion to shareholders and investing in its high-returning UK retail bank. More here: https://t.co/eu04iIU9nd
✂️ ( $BARC ) - BARCLAYS TO CUT AROUND 700 MILLION POUNDS IN COSTS FROM BARCLAYS UK, 700 MILLION FROM INVESTMENT BANK - ALL BY 2026
Breaking news: Barclays has announced a plan to return £10bn to shareholders over the next three years https://t.co/2maiPJMt4a https://t.co/uy5ZJwSqLk
Barclays to return £10bn to shareholders https://t.co/SscqvAbjof
Barclays plans to return $12.60 billion to shareholders between 2024 and 2026 https://t.co/2NmbnPiq9B
Barclays To Return £10Bln To Shareholders - FT https://t.co/NeyatxAhjs