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Barclays Bank PLC Jan 04
Standard & Poors, Jan 2004
Abstract
The ratings on Barclays Bank PLC reflect its good income levels, tight cost control, satisfactory capital adequacy, and strong U.K. market position. Profitability is robust on an international basis, although correlated with U.K. economic performance. Strategic decisions in the late 1990s positioned Barclays to be well able to provide a resilient performance during the recent global economic slowdown. Standard & Poor's expects Barclays' income streams to remain good in absolute terms. Increased price competition in U.K. financial services restrains earnings growth, even though Barclays does not compete solely on price across its entire portfolio. Continuing efforts to reduce exposure to more volatile sectors, and improvements in risk management procedures, help dampen the impact of a weaker economy on the balance...
Companies mentioned in this report are: Barclays Bank PLC,Barclays Global Investors Trust & Banking Co. Ltd.,Barclays Vida y Pensiones Compania de Seguros S.A.,Barclays Private Clients International Ltd.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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