Barclays is a financial provider that operates on an international basis. With 300 years of historical existence, the group operates through its subsidiary Barclays Bank PLC, in over 50 countries and has 147,500 employees and a merger with Absa group in South Africa. The group practices to serve its customers and clients as well as optimising risk adjusted returns for its shareholders. Therefore, it moves, lends, invests and protects money for more than 38 million customers and clients worldwide. It is the third largest bank in the world in terms of assets and the one of the largest financial services provider in the world with a core tier one ratio of 11 per cent. It is the third largest bank in the United Kingdom (UK) based on market capitalization, with headquarters at 1 Churchill Place in London, England, having moved there in May 2005 from Lombard Street in London.
Objectives and aims:
The group purpose is to make available products as well as services to help the customers to achieve their financial goals that would in turn lead to economic growth. To attain this, the plan focused on the following objectives: * A safer and more secure financial system.
* A banking industry that is equipped to support the needs of the global economy. * The ability of the suppliers of financial capital to earn a positive return on their capital. * Demonstrating its credentials as a good citizen
* HSBC bank is the first top bank in the world with the largest profit in the first quarter of 2011 * High trust and credibility in emerging markets such as China, thus, enjoys large economies of scale in its fast growing economy. * A good online saving account offering competitive rates with no monthly fees or minimum balance requirements, opened as little as with one dollar and money is FDIC insured to the maximum permitted by law.