The Impact Of Barclay 's On The United Kingdom

The Libor Scandal began in the year of 2012. In 2003, a major outbreak investigation started due to reliable banks being a prime source of manipulation of interest rate, affecting many in the benefit of

The LIBOR manipulation took place during economic upswing (2005-2009) and global recession (2007-2009). Before crisis the rates were manipulated on the both sides, lower and upper. The traders requested to increase as well as to decrease the rate depending on their bets. If the traders managed to get the rates higher before the financial crisis then the consumers suffered.

They have been able to generate different sources of revenues through commercial banking, credit card and retail financial services, which separates them from competing with some investment banking companies. The accounts, products and features the company offers sometimes have fees which it is willing to waive. Since the company wants the “share of wallet” of high balanced customers, it will take such actions. This action of course has the potential to deepen relationships. In the article by author Charles Keenen he states, “According to Bancography, a consulting firm in Birmingham, Ala., a customer who has just one product with a bank will stick with that bank for about 18 months, but add even one product - a savings account, perhaps - and the average jumps to four years. Customers with three products will stay with the bank for about 6.8 years.”

Bank of America is the largest US bank founded in 1904, it has expanded through several acquisitions. By the end of 2009, Bank of America was the market leader serving 82% of the US population and over 53 million customers. They are positioned as number one in online and mobile banking. Their mobile banking services were launched in 2007 and have gained 4 million customers in less than three years. Acquisitions made by Bank of America prior to the financial crisis caused a very strong drop in their stock price.

Lloyds Banking Group is best known for its portfolio of financial services brands that features many of the UK’s best-known brands. Together they allow the Group to serve the breadth of financial needs of a diverse range of millions of customers every day. Our portfolio covers banking, insurance, retirement planning and every aspect of financial need for individuals and businesses.

Interest rate is the percentage of the loan that is charged as interest. The interest rate is determined by 3 factors. The first is the rate that the Federal Reserve bank charges the banks. The second aspect that determine the interest rates is the demand and supply of bonds and treasury notes. Finally, the third aspect of the interest rate is determined by the bank. The bank sets the rate according to their needs.

BMO has over 960 branches and over 2000 ATMs across Canada, and over 600 branches and 1,300 ATMs across the U.S. They have total assets of $681 billion as of April 30, 2016 and over 46,000 employees, serving more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, Wealth Management and BMO Capital Markets. BMO simplifies financial matters for individuals, as well as small, medium-sized and mid-market businesses to better understand their needs, and guide them to the best solutions. They offer a wide variety of Personal and Commercial banking products including loans, mortgages, investments, credit cards and insurance. They also provide extensive financial advisory services to customers at the branches, through the ATM network, over the Internet or by phone.

CIBC has focused its core business on retail and business banking, wealth management, and whole sale banking. They have shown a proven track record of providing there customers with financial services and advice through a group upwards of 1100 branches worldwide. Strategies CIBC has portrayed is to continually find new ways to enhance the experience of the client and to stimulate safe revenue growth. CIBC has put emphases on creating deep meaningful relationships with all clients, constantly trying new ways to improve service and sales prospects and to create relationships with new clients while retaining existing clients for a long period of time (CIBC).

JPMorgan Chase is one of the leading global financial services with operations in over 50 countries. It serves millions of consumers and many of the worlds most prominent corporations and institutions. JPMorgan’s chase six major businesses are investment bank, Retail Financial Bank, Card Services, Commercial Banking, Treasury and Security Services, and Asset manager. Investment banking is what they offer their clients certain banking investment products and services in all major capital markets(change). Retail Financial Banking is when Chase helps meet the financial needs of consumers and businesses. Next, Card Services is what Chase offers their clients credit cards, debit, etc(expand more). Commercial Banking is like what you see out in the real world. JPMorgan Chase has branches to serve the

Barclays also operates in many other countries across the world, where it is a provider of services to multinational companies and financial companies. “The Woolwich” and “Woolwich” are trading names that Barclays operates under, and through these Barclays delivers banking solutions to UK retail and business banking customers. Barclays serves its customers through a variety of channels comprising the branch network, cash machines, telephone banking, and online banking and relationship managers. Key employees =

In this section, there are two different case studies which is Lloyds Bank Group and the Deloitte. These two cases indicated that how the companies have been confronting the gender issues, while carrying the employee selection function and to what extent the female has been successful in ensuring the desired objectivity.

Fully knowing the real reason of why the bank panel members manipulated their quotes will be really hard to obtain. However, this was thought that the group of banks which provided the BBA with rate quotes utilized to originate the LIBOR rate underrated their real inter-bank borrowing cost in order to disguise ostensible cash difficulties (Abrantes-Merz, Kraten, D. Metz, and Seow, 2012. p. 136). The interbank quotes each contributor submitted mirror the health and creditworthiness they had about each other. Therefore, it was plausible that Banks tried to sell the impression they were stronger than they really were during the credit crisis by underrating the funding costs (Scheiner & Broda, 2012, p. 1).

This report compares financial performance of two major banks of UK i.e. HSBC Bank Plc and Barclays Bank Plc on the basis of their Balance sheets and profit and loss accounts for the year 2009. This report also provides SWOT analysis of both banks i.e. HSBC and Barclays Bank Plc and provides an insight into their Banking Strategies.

Barclays as a financial institution has established itself as a major player in the global financial services and banking sector. The company has spread out from its native UK to the rest of the world and its presence in developing regions of South Asia and Africa is massive. Barclays has become a global player in the market for financial services and may continue to grow even further as the years go by.

According to group´s performance from 2002-2006 identifies that Barclays´ performance underpinnings are represented by its strategy of acquiring other banking (such as ABN Amro and Banco Zaragozano) concerns to expand its retail as well as other banking services through representation in international markets as represented by the bank’s presence in 60 countries. This provides Barclays with the means to sell its highly profitable investment banking services as well as be positioned to service the cadre of multinational companies that utilize its diverse banking financial service packages.