Barclays Investors Cheer Buybacks as Bank Lays Out New Strategy
- Bank aims to return at least £10 billion to investors by 2026
- Barclays has a current market value of roughly £24 billion
Barclays Plc spent four hours unveiling its three-year plans for shedding costs and boosting revenue. At the end of the day, investors really only cared about one thing: capital returns.
“The really big part has to be around the capital allocation,” Royal London Asset Management’s Richard Marwood said in an interview. “They’re looking at returning nearly half of the market capital of the business over the next few years.”