Bloomberg Talks Barclays CEO C.S. Venkatakrishnan Talks Deregulation
Feb 13, 2025
C.S. Venkatakrishnan highlights Barclays' impressive financial results, showcasing a strong trading performance that exceeded expectations. The conversation touches on the bank's growth strategy and future enhancement of shareholder value. Venkatakrishnan also shares insights on the UK’s balanced regulatory approach, linking it to market dynamics and the effects of past deregulatory agendas. The discussion reveals how these elements influence mergers, acquisitions, and overall market confidence.
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Barclays 2024 Performance
- Barclays' 2024 profits are £8.1 billion, a 24% increase from 2023, driven by revenue growth and cost reduction.
- Return on tangible equity (ROTE) is 10.5%, exceeding the targeted 10%, with £3 billion returned to shareholders.
ROTE Targets
- Some Barclays businesses, like Barclays UK and the corporate bank, already achieve high ROTEs.
- The bank is shifting its focus towards these higher-returning businesses to improve overall ROTE.
Trading Revenue Performance
- Barclays' trading revenue benefited from recent market volatility, particularly in equities and securitized products.
- They are focused on gaining market share and building structural performance, rather than relying solely on cyclical factors.