Barclays
Barclays
Barclays
Bank
Name: ABC
Date: xyz
Table of Contents
History ....................................................................................................................................................................... 3
Barclays Bank PLC ................................................................................................................................................ 4
Business description ............................................................................................................................................ 5
SWOT Analysis ....................................................................................................................................................... 8
Pest Analysis ........................................................................................................................................................ 13
Porter Five forces ............................................................................................................................................... 14
Financial analysis ............................................................................................................................................... 16
Recommendations ............................................................................................................................................. 19
Conclusion............................................................................................................................................................. 20
References ............................................................................................................................................................ 22
History:
Barclays bank is the world leading provider of financial services and it is also engaged in
the commercial and retail banking, debt and credit cards, investment management, invest
banking and other wealth management services. Moreover, their services also extended to
other countries of the world and they have a very strong occurrence in Africa, Europe, USA
and Asia. The headquarters of Barclays bank is based in London, England; the main
objective of the Barclays bank is providing the financial products which are based on the
customers needs and demands. They provide best customer services to fulfill their
financial objectives and later on it would turn into to the economic growth of the country
(Barclays about Us, 2012).
The history of the Barclays banks started from 1690 when Freame and Gould established
the business of goldsmith banker on the Lombard Street in London. In 1736 the company
successfully gained the name of Barclays when James Barclay came into the business.
Moreover, in 1896 many banks which include Gurneys Bank of Norwich and Backhouses
bank of Darlington came together as Barclays and Co. And it is the cooperative stock
company. After that this bank operated all over the United Kingdom through 182 branches
and later on Quaker bank also joined the Barclays (Barclays About Us, 2012).
At the start of the 20th century the company also obtained many other banks which named
as United County bank, provincial and south western bank and Bolithos Bank of London.
After that, in 1965 the United States associates of the company formed the Barclays bank of
California in San Francisco. In 1985, Barclays United Kingdom and other international
subsidiaries of the bank formed the Barclays PLC. And the following year the Barclays bank
is the very first bank which is registered on the Tokyo Stock Exchange and New York Stock
exchange as well. In the year 2000, Barclays acquired the one of the worlds famous
mortgage banks which is Woolwich. In the 2001, Barclays established the joint venture
with Legal and General to attract the customers linked to the investment and pensions
products. After that in the year 2003, the Barclays also gets a hold of Bunco Zaragozano, it
is the one of the major banking groups in Spain (Barclays About Us, 2012).
In the year 2005, the bank also acquires the maximum share in the leading retail banking
named as bank Absa go up Ltd. The year 2006 is the one of the most important year for the
growth and development of the Barclays. In this year's company earn more than 50% of
profits from the countries other than the United Kingdom. The Barclays is the first United
Kingdom bank which introduces the personal bankers in their branches. Furthermore, the
company acquired the Goldfish credit card company in the year 2008 at $70 million; it is
the well reputed credit card company. In the same year the Barclays also bought the shares
of the Russian retail banking which is an Expo Bank at $745 million (Barclays About Us,
2012).
Finally, the Barclays Bank have objective to be the one of the best banks in the banking
industry all over the world and they also want to be an industry leader and provide the
best financial services in the world. The company always reshapes their products according
to the needs and demands of their customers and provides the variety of services to their
cost owners.
Barclays Bank PLC:
Barclays is the world 18th largest company which provides a wide range of financial
services and the worlds fourth largest financial services provider on the basis of Tier 1
capital which is approximately $32.5 billion. On the basis of market capitalization it is
ranked on the 3rd number, the bank's headquarters are located at the 1 Church chill Place,
Canary Wharf, London (Barclays about Us, 2012).
Barclays
bank
based
on
the
different
groups
which
named
as
follows
Barclays Africa
Barclays Commercial bank which deals with UK large and medium business
Barclays France
Barclays Portugal
Barclays Spain
Barclays Wealth
Woolwich PLC
Business description:
Under following is the detail description the Barclays PLC business;
Introduction
Barclays is the international financial services group which involves mainly in the banking
and investment and asset management. In the context of market capitalization the Barclays
is the one of the biggest financial group in the United Kingdom. The Barclays also operates
in many other countries it is the foremost financial services provider. In addition to that it
also provides financial services to the multinational companies (Barclays About Us, 2012).
Barclays has 1600 branches all over the United Kingdom and 4,750 branches across the 50
countries of the world. The Barclays group is structured in the Strategic business units
which are further supported by the sharing department services; each strategic business
unit is working independently and creates additional value for the overall group. It also
provides a competitive advantage for the customers by giving them superior and excellent
products and service (Barclays About Us, 2012).
The performance results collected by Head Office from each strategic business unit, after
that the cost are shared to support the other functions for example UK branch network and
other common infrastructure.
Personal Financial Services:
Personal financial services (PFS) offer an extensive range of products and other financial
services to more than 14 million customers all over the United Kingdom. Moreover it
includes, current accounts, saving accounts, consumer loans, and mortgage and also
provide general insurance. These services are available for every customer all over the
world trough the integrated channels of Barclays bank branches, ATM machines, online and
telephone banking.
Personal financial services work very closely with the other business units; it has more
concern with the Barclays private Clients, Barclay credit and debit cards and business
banking. Moreover, the Woolwich and Barclays Open plan plays vital role in the integrated
banking services that attached customers from current accounts, savings and mortgage; it
helps them and provided the customer's facility to transfer their money to gain higher
interest without the overdraft charges. It also provides the offset credit balances facility
against the mortgage balances (Banking on the future at Barclays, Abbey National and
HSBC: UK banks balance reinvention with traditional brand values, 2003).
Barclays Capital:
Barclays capital is based on the investment banking part of the Barclays bank; it offers
services to the corporate, institutional and government clients and also offers solutions to
their financial problems which are risk management and financial planning. The Barclays
Capital business model is very different from others which focus on the wide range risk
management and financial planning services. Furthermore, it also provides services based
on the interest rate, foreign exchange, credit markets linked to the other fluctuations within
the economy. All these functions are divided into partitions which involve fixed income,
foreign exchange, commodities and money market. On the other hand equity related
markets involve the sale and attending of shares and the further research related to the
loans and debt capital markets.
Barclays Global Investors:
Barclays Global Investors (BGI) is the world leading asset management company which
provides the intentional investment management services. Barclays Global Investors
provides the structured investment strategies for example; risk controlled factors,
indexing, tactical asset allocation such as hedging and swaps. It also provides the other
investment services which include securities lending, cash management and other portfolio
transition services, moreover, it focuses on the return on risk and other factors which
linked with the performance.
Barclays Africa:
Barclays Africa offers the personal banking services such as current and saving accounts to
the people of North Africa, Sub Saharan Africa islands which exists in the Indian Ocean. The
portfolio management is based on the operations which are occurring in the Botswana,
Egypt, Kenya, Mauritius, Ghana, South Africa, Uganda, Zambia and Zimbabwe. Barclays is
one the largest international bank which is currently operating in above mention places,
they are serving more than 1.5 million customers in the Africa. They have recently been
working on the strategies which based on the growth and development of products and
services.
Business banking:
Business banking gives the relationship banking to the large and medium sized business
which is currently working in the United Kingdom. Customers are provided with excellent
services according to their needs and demands. They have very extensive relationship with
industry based customers and the managers of the business because they have an approach
to the products and services. In addition to that, it also provides focused business
information to their business customers according to their environment. Furthermore, this
information is further organized in the form of formulating stages which help the business
for the constant growth and development. Moreover they use the Value Aligned
7
Performance measurement system which directly linked with targets and rewards, this
system provide the additional value to the industry, it also gives strength to the customer
relationship with the current customers.
Head office functions
The functions of head office involve the Barclays central group activities which include
Executive group, finance group, furthermore, it also involves the marketing and other
communication like human resource, group strategy and planning, internal audit,
marketing and legal. In addition to that it also involves the corporate stage planning and
corporate secretariat, risk and tax compliance. The overall cost occurred during the
operations are totally depend on the strategic business units charged to them.
On the other hand, central items involve the internal payment which is charged by the
Barclays Capital for their structured capital markets and it also involves the income which
is generated from the management. It comprises on the property related services and other
items include central information technology systems (Banking on the future at Barclays,
Abbey National and HSBC: UK banks balance reinvention with traditional brand values,
2003).
Competition and outlook:
Everyone knows that the United Kingdom financial markets are highly competitive and
innovative; the competition is very strong as well in the Europe financial markets. The new
entrants should be very careful for the fluctuations of the financial markets. The new
entrant should be conducted deep research for the financial markets. The landscape of
every business is still very highly competitive for every business. The Barclays banks
believe that the United Kingdom economy is relatively well as compared to the Europe.
SWOT Analysis:
The Barclays group is the one of the foremost financial services and it is involved in the
commercial and retail banking, wealth management, investment management services,
credit cards and investment banking. Barclays maintains its position all over the United
8
Kingdom and all over the world as well to achieve the aim and objectives and also taking
benefits from the economies of scale. Therefore, the group prime focus on the flow of new
money but the weak economic conditions still have affected over the company revenues
and profits
Strengths
Weaknesses
Cost efficiencies
Higher profitability
Trading
income
directly
on
the
financial
position
Opportunities
Threats
Economic problems
Positive
outlook
increase
business volume
problems
Strengths:
Extensive network in Europe:
Barclays is the major global financial service supplier in almost 50 countries in USA, Middle
East, Europe, Asia, Australia, Africa and Latin America. Barclays has a wide network of
branches all over the United Kingdom with 1,733 branches and very wide network of cash
machines as well (Barclays bank on Africa: Expanding business into the third world: ,
2006).
Cost efficiency:
Over the last few years, Barclays focus on the optimization of cost and its successfully
containing the operating cost. The company productivity is measured by the cost to income
ratio which is 62.1% in the 2005 and after four years it reduces to 58% in the year 2009. A
main portion of the increase in productivity is linked with the underlying cost. In the last
few years, the Barclays have improved the cost to income ratio and help the company to
reduce the operating cost.
Ability to reduce the balance sheet:
At the end of the year 2009 Barclays reduced its balance sheet size to the one third of its
original size. This reduction is mainly based on the decrease in the derivative assets.
Furthermore, reduction in the loan advances based on the Barclays Capitals and other
financial institutions are also linked with that. Due to the reduction in balance sheet the
adjusted gross leverage is getting better 28 times and 20 times in year 2008 and 2009
respectively. The reduction in balance sheet improves the company sustainability and also
increases the profitability of the business.
Weaknesses:
Trading income directly impacts the revenue
In the year 2008, the Barclays group overall income is reduced to $1,924.3 million from
$5,442.6 million in 2007. This decline is linked to bigger losses in the credit related
business. Moreover this loss is also based on the revaluation of securities and other
derivatives; on the other hand the company has gained in the foreign exchange dealings.
Later on in the year 2007 the net trading income was 16.3% and it was reduced to 5.8% in
10
the year 2008. This is the major weakness which company has to face because it have a
direct negative impact on the company operations and the revenues.
Barclays capital markets have impact on the financial position
Barclays has the experience of United States financial markets and they have almost $52.12
billion in the subprime mortgage market of the United States. When the mortgage slump hit
the United states it also affects the Barclays Capital very badly and the effects of mortgage
slump are still affecting the company operations, this another weakness for the Barclays
group because the company is still affected by the mortgage slump and it also affect the
financial position of the company as well (Barclays bank on Africa: Expanding business into
the third world:, 2006).
Opportunities:
Current investment helps to hold the future markets
Barclays wealth announced that they are going to make additional $350 million investment
in the year 2012-2015, this investment is based on the escalated growth in the 2012 and
afterwards. These investments are based on the human resource and technology.
Moreover, the Barclays focus on the global markets for their higher return and growth
because the United Kingdom and United States have a large pool of financial resources. The
investments in the Barclays wealth will accelerate the growth and revenue for the whole
groups (Banking on the future at Barclays, Abbey National and HSBC: UK banks balance
reinvention with traditional brand values, 2003).
Positive outlook increase business volume
The mortgages are specially designed for the customer for the investment in the property
by buying one or more houses and after that letting them for the rent. This market is
growing for the last few years; however, the severe economic conditions badly affect the
market. On the other hand the Barclays are a very strong group and they have very wide
investment in the property section. In the Unites States, after the slump in property the
11
company has greater chances for the positive outlook of business, it will be very beneficial
for the expansion in the business volume (Hendrickson, and Aarseth, 2006).
Supplement Growth
In the last few months the company has progressive growth in the retail banking industry
in the United Arab Emirates. The company should take initiatives to start the commercial
banking in the Middle East section because there are so many opportunities in these
markets. Banking industry always has the scope of geographical expansion, so that Barclays
group should give the importance to this region for future growth and development
(Barclays bank in Africa: Expanding business into the third world: 2006).
Buoyant personal loans help the business
The United Kingdom personal secured loans always have the continued growth, according
to the data monitor loans the secured personal loans of the United Kingdom is enjoying the
prospective growth form 2007 and it reaches the 10, 160 GBP by the year 2011. In the
future time period it is observed that the personal loans still have the chances of rapid
growth so that the Barclays should have to invest in these loans to earn higher returns and
profits (Ursine, and Ursine, 1995).
Threats
Economic problems
The United Kingdom still in the spiral of the economic downturn which decrease the
company financial positions. The recent forecast of the economy from IMF says that the
unemployment rate is increasing which badly affect the over job market of UK.
Regulatory fines may cause problems
In 2007 the Barclays groups pay $10.9 million to the United States for the settlement
against the improper trading of shares which is based on the wrong market information
which may lead towards the bankruptcy. Furthermore, the company also paid many
12
regulatory fines which underestimate the confidence of customers, investors and it also
affects the brand image of the company (Hwa, 2008).
Online frauds:
The online frauds always have adverse effects on the banking industry, these frauds based
on the online and credit transactions. The banks should follow the very tight security
measures to reduce these frauds as much as possible. However, due to higher technology
advancements the number of frauds is also increasing on a regular basis. The Barclays
should focus on these online frauds to that customers can do the business with full
confidence (Cummins and Derrig, 1988).
Pest Analysis:
Political environment
In every country there is specific rules regulation which is very important for every
business for the legal operations. Government affects the business at the local and national
level on the regular basis to help of rules and regulations and policies. The government also
helps the organizations by creating strategic opportunities for their business. The
Government also handles the monopoly by limited trade rules and regulations, these
legislations will encourage the competition within the industry.
Barclays has a much diversified business which is expanded all over the world so that the
company should conduct their business functions according the specific country
requirements. The company should conduct their business for their own profits and also
for the country in which they're working (Barclays banks on customer-service training,
2002).
Economic environment
The economic and political environment is directly linked with each other; it is completely
based on the past and future economic conditions, purchasing power, savings, wealth and
the consumption requirements of the people. The Barclays should keep this thing
highlighted that the inflation rate will affect their business very badly because they
13
operated globally and every country have different economic conditions which affect the
business in different ways. Furthermore, the economy has negative as well as impacts on
the business and the customers of the business, so that the Barclays should take care of all
the economic aspects which directly affect their business (Gonenc, 2005).
Social environment
A social environment is the most difficult for the any business because every society has its
own norms and values and their society always behave according to their own values.
Peoples lifestyle and their needs and demands are changing very rapidly and these
changes are more diversified when people become rich. Barclays financial planning has
initiated two new financial products which are linked to the pension funds for their
stakeholders. In addition to that, the company also reshaping their products according to
the needs and demands of their customers so that they can meet the requirements of
customers (Drake, Gwynne and Waite, 1998).
Technological Environment:
In the last 10 years the advancements in technology affect every business in a very
significant way and it also has very innovative impact on the business operations. Barclays
should focus on the advancements of technology; they must adopt the best available
infrastructure to enhance the competitive advantage. The company should upgrade their
services to meet the latest challenges of the industry.
Porter Five forces:
Entry barriers
The rising markets of Asia and Africa are fully under the control of the government and the
central banks. Many decisions are taken by the central bank itself for example interest rates
on the loans and savings; moreover, the central bank also controls the money supply all
over the country. In these situations there the entry barriers for the Barclays if their
entering into the new Asian markets. The Barclays should follow the strict rules of central
banks which are limited number of branches deposit taking and loan lending form the
14
central bank. Furthermore, the Barclays also develop the strategy according to the needs
and demands of their customers (Success through inclusion: equality and diversity at
Barclays, 2002).
Rivalry among the existing competitors
There is very strong competition in the financial markets because it is operated by the so
many key players and it is obviously very high. There are many existing competitors of
Barclays which are private banks, micro financial institutions which are based in rural
areas (Redman, Tanner and Manakyan, 2002).
Bargaining power of suppliers
The bargaining power of supplier is the medium and the supplier of the Barclays is the
lenders who deposit their money in the bank. In many markets the Barclays is not listed
company so that the main lenders are the customers itself. The customers have lots of
choice to deposit their funds in different banks; any bank gives them lots of interests and
attracts them. Barclays, offering so many benefits to their customers to attract them, so that
the bargaining power of supplier should remain lower (Henriksen, and Aarseth, 2006).
Threat of New entrants
The threat of new entrants is very high because the global financial market is open for
everybody and now days new banks are emerging in the market on the regular basis. On
the other hand Barclays always tries to retain its global positions by finding new ways of
attracting customers and develop the products and services according to the needs and
demands of the market. Moreover, Barclays also trying to capture more intentional
markets to keep its position strong so that the threat of new entrants keeps remain low
(Barclays banks on customer-service training, 2002).
Threat of substitutes:
The threats of substitutes are very high because there are so many substitutes present in
the retail finance industry for example; micro finance companies, money lenders, and
insurance companies. Furthermore, the Barclays also has risks for the some
15
unconventional companies like Microsoft, Sony, General Electric, these companies start the
money lending. So many others private financial companies offer the car financing over 0%
financing so these are also the major threats to the Barclays (Gordon, 1963).
Financial analysis:
Financial analysis includes the 3 year ratio analysis of the Barclays Bank.
Financial Ratio Analysis
Current Ratio
Gearing Ratio
ROCE
Interest Cover
ROA
Current assets
1212
2019
13556
146638
150173
Current Liabilities
26205
29703
10524
11276
12396
4.62
6.79
1.29
1.30
1.21
12058
20045
13312
14387
15078
12282
20403
13789
14895
15637
98%
98%
97%
97%
96%
PBIT
4421
4355
9393
3564
3007
96657
17430
32665
36219
32431
0.46%
0.25%
2.88%
0.98%
0.93%
PBIT
4421
4355
9393
3564
3007
15713
16441
9318
7512
8393
0.28
0.26
1.01
0.47
0.36
PBIT
4421
4355
9393
3564
3007
Total Assists
12282
20403
13789
14895
15637
0.4%
0.2%
0.7%
0.2%
0.2%
38588
50647
46139
46571
47930
Net Loans
16
Total Deposits
38661
34728
37628
47229
41272
0.998
1.458
1.226
0.986
1.161
Interpretation:
Current Ratio:
The current ratio of the bank in 2007 was 4.62 which are very healthy provided that most
of the noncurrent assets of the bank are highly liquid. The ratio improved over the year to
6.79 but after that the ratio suddenly decreased to 1.29 and remained in the bracket of 1.2
to 1.3 for three years. Although the results of the ratio are still good the eventual drop in
the ratio can't be ignored, the sudden drop can be due to the fact that the company has
reduced its investment in current assets and started investing in the long term assets, the
other reason for this can be increased in short term liabilities the bank had to get due to the
financial difficulties it would have been in, on that time. The actual reason behind the drop
in the ratio is that the bank reduced its investment in current assets to invest in long term
assets so that the bank can increase its profitability in the long run.
Gearing Ratio:
Although the gearing ratio of the bank is quite high, but it kept almost constant over the
years. Such level of gearing ratio means that the bank is highly risky to invest in; investors
will demand a higher return on the investment that they will be making at the bank, also
due to high levels of gearing the bank will get much expensive loans as compared to other
banks. On the positive side the bank can claim tax benefits on the interest payment the
bank will be making to its lenders (Graham, 2004).
Return on Capital Employed:
17
This ratio evaluates the performance of the capital employed by the company. It measures
the efficiency of the utilization of the monetary resources the company has.
ROCE for the bank in 2007 was not good as the bank only able to generate 0.46% over the
period of a year on the finances it utilized. The return on capital employed eventually
increased in the year 2009. The ratio can change due to decrease in Noncurrent Assets, an
increase in short term liabilities and decrease in profits. In this case the ratio has increased
eventually due to two reasons; the profits of the company increased eventually and the
noncurrent liabilities also increased reducing the denominator hence improving the ratio
of the bank suddenly in a year. After 2009 the ratio again stabilized and almost remained
constant over the year (Busy and Bititci, 2006).
The reason behind the sudden increase in profit can be due to gains on made on the
derivatives the bank would have invested in.
Interest Cover:
Interest cover of the bank has never been on the safe side with the exception of the year
2009. But the ratio is not worried because over the bank have got enough interest income
to cover the interest cost. If the interest income of the bank is ignoring the bank will end up
in very difficult situations as the then the bank will not have enough profits to cover its
interest cost and to pay the obligation of the debt the bank will have to take more loan just
to pay off the interest or the lenders will file for the insolvency of the bank if any agreement
cannot be achieved.
Return on Assets:
Return on Assets of the company has been poor an improvement was seen in the year 2009
but that can be merely due to the gains the bank could have made on the financial
derivatives it has invested in.
Most of the long term assets the bank has are its long term loans it has provided to its
customers. If the Return on assets of the bank is not good it means the bank is not able to
negotiate favorable terms with the clients applying for loans. The other factor can be due to
18
bad performance of the long term investments the bank would have made in the stock
exchange or individual companies.
Net Loan/Total Deposit:
Net loans divided by Total Deposits of the bank is the measure of Funding Base Analysis
of the bank and calculates the deposit drain. If the ratio is less than 1:1 it means the bank is
in danger of becoming insolvent.
According to the results of 2007 the bank was in danger of becoming insolvent but the bank
bounced back in coming years and over the years, performance has remained in
equilibrium, which shows that the bank is not in a danger of getting bank corrupt.
Recommendations:
Some of the recommendations that would beneficial for the growth and development of for
the Barclays bank is explained below;
Technological advancements:
Barclays bank must adopt the modern infrastructure of technology for the effective online
connection with their customers; it also helps in the development of communication
between the branches and also at the ATMs. In modern infrastructure the company should
use fiber cables etc. Moreover the proper it department should be established in every
branch and hire IT professionals to maintain the secured connection with other branches
which also helps to reduce the online frauds.
19
The bank should provide personal loan and car financing facilities
Innovation in products
Barclays banks should reshape their old products according to the new needs and
demands of the customers, to fulfill this objective the Barclays should hire the professionals
so that new ideas will change the old system.
Other recommendations:
Barclays should develop specific requirements for the active involvement with
investors
Properly identify the risk and opportunities during the investment decisions.
Should develop transparency and clear measures for the handling of investment.
Conclusion:
The Barclays is famous due to the financial services as well as through the commercial and
the retail banking. In addition to this, the bank is also famous due to the investment
banking, wealth management services, debt and credit cards. Over the 20th century the
company has attained the great success and obtained the other banks in the name of the
United Country bank. Barclays is concerned with the private Clients, Barclay credit and
debit cards and business banking. Through the BGI the company provides the intentional
investment management services as well as other investment services which include
securities lending, cash management and other portfolio transition services. The financial
20
markets of the UK are innovative and competitive as well as the financial market of the
Europe also has very stiff competition.
According to the SWOT analysis it can be concluded that the company has the broaden
network in the Europe and is strengthened due to the higher profitability and the
efficiencies in the cost but due to the economic problems the company has to face many
difficulties and the stiff challenges. Through the adoption of the modern infrastructure and
the technology the bank can maintain its operations and can sustain the healthy customers
relationship. The company should adopt the recommendations which are given in the
report because it will help the company to increase the revenue, customers and the
profitability as well as the modern technology will be helpful in assessing the frauds.
21
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