Barclays' Global reach
"Barclays PLC listed as BARC on London Stock Exchange and as BCS on New York Stock Exchange is a leading international player in the discipline of Banking and Financial Services Industry. Headquartered at London, It became operational on July 20, 1896.
It's operational in more than 50 countries across terrains of Africa, Asia, Europe, North America and South America with a customer base of 48 million users. As per the industry reports published in 2010, it stands as the 10th largest banking and financial services company and is ranked 21st largest company across industries. The total asset valuation of the company was 1.94 trillion in 2010 which is the third-largest after BNP Paribas and HSBC Bank.
The annual revenue of the company is £31.440 billion. 1, 47,100 employees are working with Barclays worldwide. Barclays PLC faces tough competition from Deutsche Bank AG, HSBC Holdings plc and Royal Bank of Scotland Group plc.
Products and Services and Target Audience:
Barclay Group has different sites dedicated to special and unique business functions:
- Barclays Capital offers financial solutions covering risk management, strategic advisory solutions to corporate houses, institutes and government organizations.
- The Absa Group Limited, one of South Africa's largest financial services groups.
- Barclays Corporate provides banking solutions corporate having a turnover of £5m or more than that.
- Barclaycard is a credit-card and consumer lending business.
- Barclays Wealth provides Wealth services like investment, brokerage, and fiduciary to High Net worth Individuals (HNI) Clients both domestically and internationally.
In UK, Barclays offer retail banking solutions inclusive of Financial Planning, Home Finance and Consumer Lending. Target Audience of the Company is primarily household customers, HNI (High Net worth Individuals), corporate groups, business and institutional players. It was recognized and awarded in 10 different verticals including Best Commercial Mortgage (Barclays Business) Provider at the Business Money facts Awards 2010 in the year 2010.
The Company acquired Standard Life Bank PLC with 100% stake in 2010. The same year, they acquired the credit card division of Citibank International PLC and in the month of July (same year), it acquired 86% stake in Tricorona. A career at Barclays not only offers performance incentives and flexible working hours to enhance the productivity and efficiency of employees but also provide health-care facilities and tax-saving schemes.
Challenges and Opportunities: the way ahead
Barclays was already looking at acquiring a substantial amount of Lehman's assets prior to its disintegration: after the collapse, they negotiated a better deal. The bank's strategy is to offer a full portfolio of services worldwide. In sync with Barclays' expansion plans and strategies, Asia-pacific region is thought of possessing immense business potential which the company can tap. And the same is being achieved by Barclay's by running its operations in different locations of the region.
However, if the economic downturn is long-drawn-out, acquisition of Lehman's assets could prove to be a faulty decision. When on the one hand, the company is offering various products and services, on the other hand, it faces threat of their customers shifting to another player who offers more specialized financial solutions.
As far as the ?capitalization' is concerned, Barclays doesn't enjoy a strong position in Asian Market as there are other strong players present already in the market. Will Barclay be able to create a strong presence in Asian markets too? What strategies should the company use to gain a more loyal and wide customer base?