Barclays
Barclays is a British universal bank and financial services group headquartered in London, one of the oldest and largest banks in the United Kingdom.
Last updated October 30, 2026
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Overview
Barclays is a British universal bank and financial services company headquartered in London, United Kingdom. It is one of the oldest and largest banks in the UK, with roots that trace back to goldsmith banking in London in the late 17th century. The modern group operates through two principal divisions: Barclays UK, which serves retail customers, small businesses and wealth clients in the home market, and Barclays International, which comprises the Corporate and Investment Bank and the Consumer, Cards and Payments businesses. Through these divisions Barclays offers current accounts, savings, mortgages, credit cards, personal and business loans, wealth management, corporate lending, capital markets and advisory services, transaction banking, and payments processing. Barclays is a globally significant institution with a large presence in the United States and operations across Europe, Asia, Africa and the Middle East. Its investment banking arm, Barclays Investment Bank, is a major player in debt and equity capital markets, mergers and acquisitions advisory, and sales and trading. The group's cards and payments business, including its US credit card operations and the Barclaycard brand, is one of the largest credit card issuers in Europe. Barclaycard, launched in 1966, was the first credit card in the United Kingdom and remains a core consumer brand. Barclays PLC is a public company listed on the London Stock Exchange and, through American Depositary Receipts, on NASDAQ. It is a constituent of the FTSE 100 index and is regulated by the Prudential Regulation Authority and the Financial Conduct Authority in the UK. The group has undergone substantial restructuring since the 2008 financial crisis, including the sale of its African business, the reshaping of its investment bank, and an increased focus on returns and capital discipline. Today Barclays positions itself as a transatlantic consumer and wholesale bank, with strategy centred on its UK franchise, its US cards and payments business, and its global markets and investment banking capabilities.
History
Barclays traces its origins to 1690, when John Freame and Thomas Gould began trading as goldsmith bankers in Lombard Street, London. The name Barclays became associated with the business when Freame's son-in-law James Barclay became a partner in 1736. The bank grew through a series of Quaker family banking partnerships and, in 1896, a number of these private banks joined to form Barclay & Company Limited, a joint-stock bank with 182 branches. Through the early 20th century Barclays expanded by absorbing other English banks and, in 1918, merged with the London, Provincial and South Western Bank to become one of the 'Big Five' clearing banks of the United Kingdom. Barclays established an international presence relatively early, opening a branch in Paris in 1911 and expanding into Africa and the Caribbean. In 1966 the bank launched Barclaycard, the first credit card in the UK, which became a defining consumer brand. In 1984 Barclays became the first UK bank to be listed on the Tokyo Stock Exchange, and in 1986 it listed on the New York Stock Exchange. The 1980s and 1990s saw the group build a substantial investment banking capability, culminating in the 2008 acquisition of the North American operations of Lehman Brothers following that firm's collapse, which transformed Barclays into a top-tier global investment bank. During the 2008 financial crisis Barclays avoided a UK government bailout by raising capital from private investors, notably from the Middle East. The post-crisis period brought significant regulatory pressure, litigation over the manipulation of benchmark interest rates and foreign exchange markets, and a strategic review. In 2016 the group began reducing its stake in Barclays Africa Group, eventually exiting most of its African operations. In 2018 Barclays reached a settlement with the US Department of Justice over residential mortgage-backed securities, and in 2022 it disclosed that it had inadvertently issued more securities than registered, leading to a restatement and regulatory penalty. Under Group Chief Executive C.S. Venkatakrishnan, who took over in late 2021, Barclays has pursued a strategy focused on its UK consumer and business franchise, its US cards and payments business, and its investment bank, alongside cost reduction and capital return to shareholders. The group remains one of the largest banks in Europe by assets and a constituent of the FTSE 100.
- 2021
C.S. Venkatakrishnan becomes Group Chief Executive.
- 2016
Barclays begins reducing its stake in Barclays Africa Group.
- 2008
Barclays acquires the North American operations of Lehman Brothers.
- 1986
Barclays lists on the New York Stock Exchange.
- 1984
Barclays becomes the first UK bank listed on the Tokyo Stock Exchange.
- 1966
Barclaycard, the first credit card in the UK, is launched.
- 1918
Merger with the London, Provincial and South Western Bank makes Barclays one of the UK's 'Big Five' clearing banks.
- 1911
Barclays opens a branch in Paris, beginning its international expansion.
- 1896
Barclay & Company Limited is formed as a joint-stock bank with 182 branches.
- 1736
James Barclay becomes a partner, giving the bank the Barclays name.
Products and positioning
A transatlantic universal bank combining a leading UK retail and business franchise with a global investment bank and large US cards and payments business.
Barclaycard
The UK's first credit card, launched in 1966, now a major European card brand.
Barclays UK
Retail, business and wealth banking in the UK.
Barclays Investment Bank
Global capital markets, advisory, and sales and trading business.
Barclays US Consumer Bank
US credit cards and consumer lending partnerships.
Recent events
Barclays announces 5,000 job cuts[3]
Reported:
Barclays announced it would cut 5,000 jobs, saying the cuts were intended to reduce costs.
- Unconfirmed
Ant International releases FalconTST 2.0 time-series forecasting model[4]
Reported:
Ant International released version 2.0 of its self-developed time-series forecasting model FalconTST (Time-Series Transformer), aimed at cross-border payments and foreign-exchange risk management, with plans to expand into e-commerce supply chain and aviation operations. The model reportedly achieved a MASE of 0.666 on a global time-series benchmark and is used by Barclays, Citi, Deutsche Bank and Standard Chartered for cash-flow forecasting and FX management.
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