Latest news with #Barclays
Daily Mirror
3 hours ago
- Business
- Daily Mirror
Use our map to see if your bank is one of 41 branches set to close in July
There are 41 banks scheduled to close in July and the vast majority (38) are branches of Santander - use our map below to see if your local is closing Dozens of banks are set to shut in July as the wave of summer closures continues - check if you're about to lose your local branch. There are 41 banks scheduled to close in July. The vast majority (38) are branches of Santander. That follows the banking giant's announcement earlier this year that it was shutting 95 branches from June. Some 85 banks shuttered in June, and 69 in May. Another 13 banks are scheduled to close in August and 21 in September. It means that by the end of this year alone, 364 banks will have been lost from the high street. Last year, 399 banks closed, and in 2023, 633 branches shuttered. The latest closures impact every region of England as well as Scotland, Northern Ireland, and Wales. Cornwall will be hit hardest by the latest round of closures, with four branches set to shut this month. You can find out if any branches are due to close near you in July using our interactive map. Since a voluntary agreement saw the major banking groups commit to assessing the impact of every closure in February 2022, 1,879 bank branches have shut or announced their intention to close. That's an average of around 50 closures announced per month or 12 per week. The LINK initiative to assess the impact of closures - which was agreed by all the major banks including Barclays, HSBC, Natwest, Lloyds, and Halifax - was set up to ensure vulnerable customers and small businesses were not left behind in the switch to cashless payments and virtual banking. When closures leave communities without any local bank, banking hubs or free ATMs are set up to fill the gap. Full list of banks due to close in July Lloyds Bank, 27 Norwich Street, Fakenham Lloyds Bank, 14 Molesworth Street, Wadebridge Halifax, 2/3 Mill Street, Pontypridd Santander, 19 Upper English Street Santander, 42 High Street, Bognor Regis Santander, 105-109 Shenley Road, Borehamwood Santander, 1 Bridge Street, Caernarfon Santander, 6 Trelowarren Street, Camborne Santander, 3 Church Street, Colne Santander, 16 Penrhyn Road, Colwyn Bay Santander, 4 High Street, Crowborough Santander, 40-42 Teviot Walk, Cumbernauld Santander, 712-714 Wilmslow Road, Manchester Santander, 19 Rolle Street, Exmouth Santander, 13 Market Street, Falmouth Santander, 17 The Borough, Farnham Santander, 61 Hamilton Road, Felixstowe Santander, 392 Mare Street, London Santander, 56 High Street, Hawick Santander, 135 Mortimer Street, Herne Bay Santander, 20 Maidenhead Street, Hertford Santander, 408 Holloway Road, London Santander, 108 High Street, Honiton Santander, 4 Parade, Kirkby Santander, 22 Worcester Road, Malvern Santander, 4 High Street, Market Harborough Santander, 123 High Street, Musselburgh Santander, 5 Lidget Hill, Pudsey Santander, 15 Bank Street, Rawtenstall Santander, 32 High Street, Ross-on-Wye Santander, 73 High Street, Ruislip Santander, 19 Chapelwell Street, Saltcoats Santander, 28 Broad Street, Seaford Santander, 53 High Street, Shaftesbury Santander, 36-38 Fore Street, Santander, 56 Market Square, St Neots Santander, 48 High Street, Stokesley Santander, 64 Main Street, Strabane Santander, 32 High Street, Tenterden Santander, 472 High Road, London Santander, 2 Main Street, Wishaw
Yahoo
7 hours ago
- Business
- Yahoo
Barclays vs. HSBC: Which Global Bank is the Smarter Buy Today?
Barclays PLC BCS and HSBC Holdings PLC HSBC are often the first names that come to mind when discussing prominent foreign banks. Both are based in London and have been streamlining their operations to enhance efficiency and focus on their core and Barclays have been reallocating their capital into higher-growth markets, with HSBC being particularly focused on the Asia-Pacific region. Can Barclays' streamlining initiatives outperform HSBC's strategic pivot to Asia to drive growth? To find out which stock presents a better investment opportunity, let's evaluate the underlying factors driving each bank's performance. Barclays has been striving to simplify operations and focus on its core businesses. In February 2024, the bank unveiled a three-year cost savings plan to enhance operating efficiency and focus on higher-growth markets. In sync with this, Barclays sold its consumer finance business in Germany in February 2025. Last year, the company transformed its operating divisions and divested its Italy mortgage portfolio and $1.1 billion in credit card receivables. Through these efforts, Barclays recorded gross savings of £1 billion in 2024 and £150 million in the first quarter of 2025. The company aims to achieve gross efficiency savings of £0.5 billion this year. By 2026, management expects total gross efficiency savings to be £2 billion and the cost-to-income ratio to be in the high 50s. Its first-quarter 2025 cost-to-income ratio was 57%.The company is reallocating these savings in high-growth businesses and markets. In April, Barclays entered into a collaboration with Brookfield Asset Management Ltd. to reshape its payment acceptance business with plans to inject roughly £400 million. In March, the bank announced a capital injection of more than INR 2,300 crore (£210 million) into its India operations. Last year, the company acquired Tesco's retail banking business, which complements its existing business. In 2023, Barclays acquired Kensington Mortgage, which bolstered its mortgage BCS' core operating performance remained unimpressive, net interest income (NII) and net fee, commission, and other income rose in 2024 and in the first quarter of 2025 on the back of structural hedges and Tesco Bank buyout, which indicates that Barclays' efforts to refocus on core operations have begun to bear fruits. The redeployment of capital into higher-growth businesses and markets through improving efficiency is a multifaceted approach to boosting profitability. Barclays remains committed to this approach, which is likely to help improve profitability over time. HSBC is taking steps to streamline and refocus its global operations. In early 2025, it announced a $1.5 billion cost-saving plan tied to organizational simplification, with estimated upfront charges of $1.8 billion by 2026. The bank is planning to redeploy another $1.5 billion from underperforming or non-core areas into strategic part of its global restructuring, HSBC has exited or divested operations in the United States, Canada, Argentina, Russia, Greece, New Zealand, Armenia and retail banking in France and Mauritius. It is also winding down certain investment banking activities in the U.K., Europe and the United States, and reviewing its operations in markets like Germany, South Africa, Bahrain and Malta to sharpen its focus and improve HSBC is doubling down on its Asia-focused strategy as the core of its long-term growth plan. It aims to become a leading wealth manager for high-net-worth and ultra-high-net-worth clients in the region, which now accounts for more than half of its operations. In mainland China, HSBC is rapidly expanding its wealth business by launching integrated lifestyle-based wealth centers in key cities, acquiring Citigroup's retail wealth portfolio, investing in digital capabilities and hiring talent to strengthen its Premier Banking, Private Banking and Asset Management India, HSBC is aggressively scaling up its presence. The bank received approval from the Reserve Bank of India to open 20 new branches, significantly expanding beyond its current footprint of 26 branches in 14 cities. With India's ultra-high-net-worth population projected to surge 50% by 2028, HSBC is positioning itself to capture this growth through its Global Private Banking, the acquisition of L&T Investment Management (2022) and ongoing enhancements to its Premier Banking revenue generation at HSBC has been subdued over the past several quarters. While the interest rate environment across the world improved, the financial impact of the challenging macroeconomic backdrop continues to weigh on the company's top-line growth. Not-so-impressive loan demand and a tough macroeconomic environment in many of its markets are concerns. The Zacks Consensus Estimate for BCS' 2025 and 2026 earnings indicates 21.2% and 23.3% growth, respectively. Over the past week, earnings estimates for 2025 and 2026 have been revised marginally downward. Earnings Trend Image Source: Zacks Investment Research On the contrary, the consensus mark for HSBC for 2025 suggests an increase of just 4.2% while the same for 2026 earnings indicates a decline of roughly 1%. Over the past seven days, earnings estimates for 2025 and 2026 have remained unchanged. Earnings Trend Image Source: Zacks Investment Research This year, Barclays' shares have performed quite well on the bourses compared with HSBC. The BCS stock has risen 37.9% on the NYSE, while HSBC has gained 22.3%. The industry has rallied 23.8% in the same time frame. YTD Price Performance Image Source: Zacks Investment Research Valuation-wise, HSBC is currently trading at a 12-month trailing price/tangible book (P/TB) of 1.09X, higher than its five-year median of 0.76X. BCS stock, on the other hand, is currently trading at a 12-month trailing P/TB of 0.77X, which is higher than its five-year median of 0.45X. Further, both are trading at a discount to the industry average of 1.70X. P/TB TTM Image Source: Zacks Investment Research Thus, Barclays is inexpensive compared to return on equity (ROE) of 12.55% is above Barclays' 8.04%. This reflects HSBC's efficient use of shareholder funds to generate profits. ROE Image Source: Zacks Investment Research Barclays appears to be the better investment opportunity, given its stronger near-term earnings outlook, attractive valuation and superior stock performance. The company's strategic capital redeployment to boost core businesses and restructuring efforts to improve efficiency paves the way for sustained profitability. Furthermore, its year-to-date stock rally demonstrates solid investor confidence relative to HSBC's modest HSBC's pivot to Asia and high-net-worth wealth management could yield significant long-term gains, especially as India and China's affluent classes expand. Its disciplined global exit strategy and cost-saving plan may improve returns. Yet, muted revenue growth and weak earnings performance expectations raise near-term concerns. While HSBC has a slightly better ROE, Barclays' higher growth momentum and aggressive capital return strategy make it the better bet present, BCS carries a Zacks Rank #2 (Buy) while HSBC has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Barclays PLC (BCS) : Free Stock Analysis Report HSBC Holdings plc (HSBC) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Times
12 hours ago
- Business
- Times
Santander and Barclays vie to take over TSB
Barclays and Santander were named on Friday as the two frontrunners to buy TSB as the deadline for initial offers for the high street lender passed. The British and Spanish banks were reported by Bloomberg to be the main contenders still standing in the auction to sell TSB by its current owner, Sabadell. Sabadell, which is under siege itself from a rival Spanish bank, BBVA, is due to choose a preferred bidder with which to carry on exclusive talks, or to walk away from a sale. • Who will buy TSB as banks circle? As both prospective bidders operate large retail banks in the UK, either bid offers the prospect of significant synergies — but heavy job losses — if it were to go through. TSB, which has about five million customers and 5,000 UK employees, has already slashed its branch network in recent years. The Competition and Markets Authority is not thought likely to object, although either deal would marginally reduce competition. TSB is thought to have around 3 per cent share of current accounts and 1.5 per cent share of the stock of mortgages. Sabadell confirmed last week that it had received some preliminary non-binding expressions of interest for TSB, which was spun out of Lloyds Banking Group and briefly floated in 2014 before being bought by Sabadell for £1.7 billion in 2015. The Spanish government this week gave BBVA the green light to proceed with a bid for Sabadell, while saying the two sides would have to keep their operations separate for at least three years. • Is it game over for Britain's challenger banks? Sabadell's chief executive, César González-Bueno Mayer, said on Wednesday that he expected a decision on TSB before he unveils a strategic plan on July 24. Analysts estimate that TSB could fetch as much as £2.6 billion. Higher interest rates and significant cost-cutting have improved its perceived value. TSB's operations are based on Sabadell's IT platform and a UK bidder would be likely to want to migrate customers to its own platform over time. Edinburgh-based TSB traces its roots back to the 19th century, when dozens of individual trustee savings banks were founded to serve people of moderate means under a mutual structure. It was first floated in 1986 and rescued by Lloyds Bank in 1995 to form Lloyds TSB. Barclays had no comment. Santander was approached for comment.
Glasgow Times
12 hours ago
- Sport
- Glasgow Times
Jack Draper faces added pressure as home favourite at Wimbledon
The 23-year-old will be seeded fourth when play begins next week as he looks to build on victory at Indian Wells in March, his first ATP Masters 1000 title, as well as his first Grand Slam semi-final at last year's US Open. Draper was drawn to face Argentine Sebastian Baez in the first round and faces a potentially tough route through the tournament which could see him go up against each of Novak Djokovic, Jannik Sinner and Carlos Alcaraz. Clare Balding was speaking alongside Frances Tiafoe and Ian Wright at an event to mark one year of Barclays Free Park Tennis scheme (PA) But though the world's top two Alcaraz and Sinner have split the past six Grand Slams between them, Draper has already tasted victory over both. 'I do think Jack Draper is capable of winning Grand Slam titles,' said Balding, who was speaking at an event in London to mark one year of Barclays' Free Park Tennis scheme, which provides facilities and coaching with the aim of removing barriers between children and grassroots sport. 'But I think it's harder for a British player to win Wimbledon than any of the other Grand Slams because of the added pressure of it being your home tournament. 'The attention and the distraction of all the media you have to do. For all the benefits of the support of the crowd you've also got that added element of how much you want it. 'It's why Andy Murray's even more remarkable. Dealing with that desire and how it affects your brain and how your brain then affects your body, it's a big psychological challenge.' Balding points to Murray's career as an indicator of why initiatives like Free Park Tennis are key in widening the pool of potential tennis stars. Traditionally, lack of access to facilities and equipment due to costs have acted as a barrier within some communities and demographics. The hope is that by opening up those facilities and putting them within easy reach, those barriers will fall away. Since its inception last year the initiative has engaged 35,000 children by offering free coaching and equipment on around a hundred courts nationwide. '(Murray's) is not a story of coming from a privileged background,' said Balding. 'It's a story of access, because his mum was a tennis coach, so there's the key. Andy Murray won Wimbledon on two occasions (Steve Paston/PA) 'Andy and Jamie Murray would have played another sport. If their parents had been involved in a golf club they'd have taken up golf. They had access (to tennis) but through a very specific route. 'There are going to be over a hundred courts open, available and free to use. Thousands of kids have already done it and I hope more and more will. 'We know all the research into kids being outside, kids being fitter, healthier, all of those things. But I think the key with tennis is the focus that's required, the real concentration. That's a huge benefit to children.'
Globe and Mail
14 hours ago
- Business
- Globe and Mail
Barclays vs. HSBC: Which Global Bank is the Smarter Buy Today?
Barclays PLC BCS and HSBC Holdings PLC HSBC are often the first names that come to mind when discussing prominent foreign banks. Both are based in London and have been streamlining their operations to enhance efficiency and focus on their core businesses. HSBC and Barclays have been reallocating their capital into higher-growth markets, with HSBC being particularly focused on the Asia-Pacific region. Can Barclays' streamlining initiatives outperform HSBC's strategic pivot to Asia to drive growth? To find out which stock presents a better investment opportunity, let's evaluate the underlying factors driving each bank's performance. The Case for Barclays Barclays has been striving to simplify operations and focus on its core businesses. In February 2024, the bank unveiled a three-year cost savings plan to enhance operating efficiency and focus on higher-growth markets. In sync with this, Barclays sold its consumer finance business in Germany in February 2025. Last year, the company transformed its operating divisions and divested its Italy mortgage portfolio and $1.1 billion in credit card receivables. Through these efforts, Barclays recorded gross savings of £1 billion in 2024 and £150 million in the first quarter of 2025. The company aims to achieve gross efficiency savings of £0.5 billion this year. By 2026, management expects total gross efficiency savings to be £2 billion and the cost-to-income ratio to be in the high 50s. Its first-quarter 2025 cost-to-income ratio was 57%. The company is reallocating these savings in high-growth businesses and markets. In April, Barclays entered into a collaboration with Brookfield Asset Management Ltd. to reshape its payment acceptance business with plans to inject roughly £400 million. In March, the bank announced a capital injection of more than INR 2,300 crore (£210 million) into its India operations. Last year, the company acquired Tesco's retail banking business, which complements its existing business. In 2023, Barclays acquired Kensington Mortgage, which bolstered its mortgage business. While BCS' core operating performance remained unimpressive, net interest income (NII) and net fee, commission, and other income rose in 2024 and in the first quarter of 2025 on the back of structural hedges and Tesco Bank buyout, which indicates that Barclays' efforts to refocus on core operations have begun to bear fruits. The redeployment of capital into higher-growth businesses and markets through improving efficiency is a multifaceted approach to boosting profitability. Barclays remains committed to this approach, which is likely to help improve profitability over time. The Case for HSBC HSBC is taking steps to streamline and refocus its global operations. In early 2025, it announced a $1.5 billion cost-saving plan tied to organizational simplification, with estimated upfront charges of $1.8 billion by 2026. The bank is planning to redeploy another $1.5 billion from underperforming or non-core areas into strategic priorities. As part of its global restructuring, HSBC has exited or divested operations in the United States, Canada, Argentina, Russia, Greece, New Zealand, Armenia and retail banking in France and Mauritius. It is also winding down certain investment banking activities in the U.K., Europe and the United States, and reviewing its operations in markets like Germany, South Africa, Bahrain and Malta to sharpen its focus and improve returns. Further, HSBC is doubling down on its Asia-focused strategy as the core of its long-term growth plan. It aims to become a leading wealth manager for high-net-worth and ultra-high-net-worth clients in the region, which now accounts for more than half of its operations. In mainland China, HSBC is rapidly expanding its wealth business by launching integrated lifestyle-based wealth centers in key cities, acquiring Citigroup's retail wealth portfolio, investing in digital capabilities and hiring talent to strengthen its Premier Banking, Private Banking and Asset Management services. In India, HSBC is aggressively scaling up its presence. The bank received approval from the Reserve Bank of India to open 20 new branches, significantly expanding beyond its current footprint of 26 branches in 14 cities. With India's ultra-high-net-worth population projected to surge 50% by 2028, HSBC is positioning itself to capture this growth through its Global Private Banking, the acquisition of L&T Investment Management (2022) and ongoing enhancements to its Premier Banking offering. Nonetheless, revenue generation at HSBC has been subdued over the past several quarters. While the interest rate environment across the world improved, the financial impact of the challenging macroeconomic backdrop continues to weigh on the company's top-line growth. Not-so-impressive loan demand and a tough macroeconomic environment in many of its markets are concerns. How Do Estimates Compare for BCS & HSBC? The Zacks Consensus Estimate for BCS' 2025 and 2026 earnings indicates 21.2% and 23.3% growth, respectively. Over the past week, earnings estimates for 2025 and 2026 have been revised marginally downward. Earnings Trend Image Source: Zacks Investment Research On the contrary, the consensus mark for HSBC for 2025 suggests an increase of just 4.2% while the same for 2026 earnings indicates a decline of roughly 1%. Over the past seven days, earnings estimates for 2025 and 2026 have remained unchanged. Earnings Trend Image Source: Zacks Investment Research BCS & HSBC: Price Performance, Valuation & Other Comparisons This year, Barclays' shares have performed quite well on the bourses compared with HSBC. The BCS stock has risen 37.9% on the NYSE, while HSBC has gained 22.3%. The industry has rallied 23.8% in the same time frame. YTD Price Performance Valuation-wise, HSBC is currently trading at a 12-month trailing price/tangible book (P/TB) of 1.09X, higher than its five-year median of 0.76X. BCS stock, on the other hand, is currently trading at a 12-month trailing P/TB of 0.77X, which is higher than its five-year median of 0.45X. Further, both are trading at a discount to the industry average of 1.70X. P/TB TTM Thus, Barclays is inexpensive compared to HSBC. HSBC's return on equity (ROE) of 12.55% is above Barclays' 8.04%. This reflects HSBC's efficient use of shareholder funds to generate profits. ROE Image Source: Zacks Investment Research HSBC or Barclays: Which Stock Offers Better Returns? Barclays appears to be the better investment opportunity, given its stronger near-term earnings outlook, attractive valuation and superior stock performance. The company's strategic capital redeployment to boost core businesses and restructuring efforts to improve efficiency paves the way for sustained profitability. Furthermore, its year-to-date stock rally demonstrates solid investor confidence relative to HSBC's modest gain. Meanwhile, HSBC's pivot to Asia and high-net-worth wealth management could yield significant long-term gains, especially as India and China's affluent classes expand. Its disciplined global exit strategy and cost-saving plan may improve returns. Yet, muted revenue growth and weak earnings performance expectations raise near-term concerns. While HSBC has a slightly better ROE, Barclays' higher growth momentum and aggressive capital return strategy make it the better bet now. At present, BCS carries a Zacks Rank #2 (Buy) while HSBC has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks' Research Chief Picks Stock Most Likely to "At Least Double" Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren't winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%. See Our Top Stock to Double (Plus 4 Runners Up) >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Barclays PLC (BCS): Free Stock Analysis Report HSBC Holdings plc (HSBC): Free Stock Analysis Report
