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  • June 19th, 2024

Barclays: The Leading Bank In The United Kingdom 

Barclays is the biggest bank in the United Kingdom as per aggregate acquisitions. The bank is also the second biggest bank as per market capitalization. This is supposed to be one of the most important banks all over the United Kingdom that has a brand worth nearly $10 billion. 

The digital period is growing rapidly. So, it is very important to create a powerful digital existence. Barclays has put a lot of endeavor into creating its digital presence. But there are still a lot of places which need to be improved. The bank can resolve all these drawbacks by using advanced digital marketing skills. Now every business needs to know about digital marketing. Most people are eager to understand how Barclays has become successful in the enterprise. In this article, we have accomplished a detailed SWOT research of Barclays. But first of all, we have to know a few details about Barclays and the services it provides. So, let’s dive in without wasting any more time. 

A Short Overview Of Barclays

Barclays is a British multinational universal bank. The bank was set up in 1690. The bank has a good reputation all over the world. The headquarters of Barclays is located in London. Barclays is popular for firsts to credit devices, investing from more than 300 years of record whether it is the investment for the first industrial steam railway of the globe in 1819, to launching the first automated teller engine in the globe in 1967. The bank has a history of more than 325 years as it has been serving the people since 1690. Barclays has good skills in banking and it operates in over 40 countries and uses approximately 83,500 people. Barclays is a member of the FTSE 100 Index which has the main listing on the London Stock Exchange and a secondary listing on the New York Stock Exchange. It is praised as a systemically substantial bank by the Financial Stability Board. Barclays has managed to generate nearly $30 billion in revenue as of 2020. The net income of Barclays in 2020 was over $4 billion. As of 2020, Barclays has a market capitalization of over $44 billion. 

What Types of Services Are Offered by Barclays?

Barclays is supposed to be one of the biggest firms in the United Kingdom and all over the globe. The company offers its consumers a wide range of services to make them satisfied. Barclays provides the following services to consumers: 

  • Insurance
  • Mortgages
  • Corporate banking
  • Investment banking
  • Wealth and investment management

Who Are the Most Significant Opponents of Barclays?

Barclays offers its assistance all across the universe. That is why it has to face a huge amount of competition. A few top opponents of Barclays are as follows: 

  • Lloyds Bank
  • National Westminster Bank
  • Santander UK
  • The Co-operative Bank
  • Commerzbank
  • Deutsche Bank 

SWOT Analysis of Barclays

With the help of a SWOT examination, the administrators of an institution can make an important engagement scheme as they get to know the internal as well as the outer ingredient characteristics of the company. 

The primary aim of the SWOT examination is to specify the techniques that may be utilized for building on and protecting the strengths of Barclays and eliminating the weaknesses of the company. Strengths and weaknesses both are the internal factors of the corporation. The SWOT analysis also helps to control the external data of the company like the opportunities and counter market threats. So, here is a comprehensive SWOT analysis of Barclays: 

What are the Strengths of Barclays? 

Strengths are the optimistic characteristics of Barclays or any other company which help the company to win over the other opponents. A few strengths of Barclays are given below: 

  • Reasonable Recoveries on Capital Expenditure – Barclays is popular for its enactment of unique schemes and also for promising recoveries on capital expense by creating new income.
  • Consumer-friendly Mortgage Plans – The company provides 80% mortgages to its consumers which remain for 2, 3, 5, or 20 years with an attractive interest rate in comparison with other banks. 
  • ATMs and Branches –

There are more than 4700 department branches of the bank and 1600 offices in the United Kingdom. The company also works in more than 55 countries. The company is a component of the multinational ATM alliance that enables its consumers to take out from banks for which the consumers do not need to pay any additional expenses as a bonus for the ATMs of other banks. 

  •  High Liquidity – This is a completely capitalized bank with high liquidity and cash flow, which enables resources to step up into unique and new schemes all over the world. 
  • Employee Orientation – The substantial and useful system of the company is to learn and train their workers through skilled trainers. Barclays pays a lot of money on the employment and the growth of its workers, pitching in and searching for a crew that is highly qualified and driven to fetch incredible development.

What are the Weaknesses of Barclays?

Weaknesses are the areas that need to be improved by Barclays. The growth of the company depends on these factors. So, the company should be careful about such characteristics and handle them as early as possible. A few shortcomings of Barclays are as follows: 

  • Demand Forecasting – One of the most important reasons why the stock of the day is in increased difference with its opponents is that Barclays is not so promising at requests, expecting along these lines to work in keeping increased inventory in-house as well as in the channel. 
  • Disagreements – Controversies like financing the government in Zimbabwe and breaking multinational money laundering regulations influence the brand impression of the company. 
  • Cases prosecutions – Various cases like involvement with South Africa under politically ratified ethical segregation, allegations of tax evasion, and many more have affected the brand image of the company. 
  • Loyalty Rates – The users have given very low ratings to the company. This is indeed an adverse aspect for the corporation. The company should alter it as early as possible. 
  • Impacting Long-Term Growth – Days stock list is in high distinction with the opponents which makes the company raise more money flow to set resources into the channel. The long-term growth of Barclays can be affected by this. 

What are the Opportunities for Barclays? 

Opportunities are the aspects that enable Barclays to develop in the enterprise. It must be capable enough to grab these chances and create their strengths. A few opportunities for Barclays are as follows: 

  • Web-based / online banking – 

Penetrating web-relied banking is an enormous uninvented area. New client’s from one channel– more than a few years, the company has invested a huge quantity of money into the internet-relied stage. This incident has unlocked a unique contrast medium for Barclays. In a few years, the institution may utilize this opportunity by understanding its consumer better and attending to their demands by using huge data investigation. 

  • Arising Youth – There is a rumor in the youth now for acquisition and they are looking for various types of acquisition options. Barclays may attain urban children who are looking for acquisition options. 
  • Developing into more municipalities & nations – At present Barclays works in over 50 countries and uses 156,000 agents. It may also serve in enormous numbers of its present industry sectors. Expanding industry sectors provide the bank with doors for more growth. That is why functioning in unique geological areas is similarly worth funding. 
  • Development In Monetary Information Among Youth – The levels of exercise are enhancing. There will be a heap in the number of youthful public who are looking for experience options. As of now, Barclays has a strong brand assessment among children in charge of being the English Premier League backing. It must use this examination to bring the youth right toward the outset of their experience expedition and anticipate holding them as steadfast customers throughout a substantial span. 

What Are The Threats To Barclays? 

Dangers are supposed to be legal problems. For instance, The Serious Fraud Office (SFO) in the UK has charged Barclays Bank PLC with ‘unlawful financial assistance’ detected with billions of pounds fetched from Qatar up in 2008. Barclays carries an economic pass that entitles it to perform in various nations. In any case, if the bank was seen as blameworthy, it could forfeit that crucial ticket. A few threats of Barclays are given below: 

  • Environment Change – In 2017 Barclays confronted fighting with tree huggers because of its obligation to Third Energy which intended to remove natural gas utilizing hydraulic pressure-driven braking (deep earth drilling) at Kirby Misperton in Yorkshire. Then in 2020, it sold off its Third Energy to Alpha Energy. Barclays put $85 billion into petrol energy extraction and $24 billion being developed.
  • Us Lawsuit Claims To Allege Dark Pool Fraud – In June 2014 the US region of New York documented a case against the bank asserting it cheated and deceived financial backers with off-base showcasing material concerning its unregulated exchanging framework figured out as a dim pool. The bank’s suggestions were reduced by 5% on the announcement of the case.
  • Gold Value Manipulation And Control – In May 2014 the Financial Conduct Authority fined the bank £26 million over frameworks and administration dissatisfactions, and irreconcilable problems with the bank and its consumers in association with the gold fixing during the period 2004–2013, and for administration of the gold price on 28 June 2012.
  • Allegations Of Money Laundering– In March 2009, Barclays expended US$298 million to settle the allegations of violating and disregarding worldwide illicit surcharge release regulations.
  • Increased Competition – A profoundly competitive and forceful atmosphere from different other banks can influence the market shares of Barclays Bank.

What are the Reasons Behind the Success of Barclays? 

The primary reasons behind the success of Barclays are that Barclays has managed to gain a reputation of being a trustworthy organization to bank and finance with. The company has proved it by showing its skill in banking in its more than three hundred years of history. The reputation of the company developed in over 50 nations and became a genuine universal bank offering loans, acquisitions, and saving the capital of more than 42 million consumers and clients all over the world. 

Another cause behind the conquest of Barclays is that it abides by a simple strategy; understands the requirements of consumers and clients and fulfills them so that it can meet their goals. Barclays has become so successful because it has been able to target and detect the upcoming appearing markets like India, parts of Asia, and Africa. The command has expanded its retail web and currency machine availability. Barclays is a truly multinational company from a fundamental bank account to funding Government schemes. But Barclays always concentrates on meeting the necessities of every consumer separately.

Social Media Marketing Of Barclays 

Barclays is one of the most emerging banks all over the globe. The company is striving a lot for social media marketing. The company is using various platforms like Twitter, Facebook, and Linkedin to get in touch with consumers and give them the best possible banking solutions. The company uses the best content for social media marketing that offers important information on multiple financial topics. They contain budgeting tips as well as information about the latest economic derivatives and assistance. This enables the consumers to make better economic determinations. This also helps Barclays to establish itself as a reliable reference of data. The company also uses the best content that is timely and urgent. The company alerts people about the updates on crucial economic matters like changes in interest rates, or new rules. In this way, the consumers may stay informed and on top of the best financial decisions. 

Barclays also stands out from the crowd by providing unusual and customized solutions with the help of its social media tracks offering a more detailed experience for consumers. The company also utilizes social media to grab the concentration of the customers towards their different derivatives and assistance like credit cards and mortgages. 

Moreover, Barclays has an ultra-specific social media presence because they utilize targeted ads and customized content to get in touch with consumers and give tailor-made solutions. The company also uses social media to give back to society by making alliances with non-profit institutions and hosting generous occasions, authorizing consumers to get involved and make a distinction. 

Conclusion

After doing a SWOT examination of Barclays we have come to understand that Barckays is supposed to be one of the biggest banks in the United Kingdom. The company offers reasonable recoveries on capital expense and the company also has consumer-friendly mortgage plans. The company has a huge amount of scope in the youth as an understanding of financial acquisition is developing. Though it has so many advantages, it has a few shortcomings in the market. 

The brand image of the company gets affected because of its connection in debates and reducing loyalty rates. The company also gets highly affected due to the high amount of competition in the market. The company can only win over these factors by enforcing proper policies like developing its online stature and making a strong brand stature. 

Barclays has a substantial social media presence that stands out for its efficacy, punctuality, individualism, and explicitness in attaching with consumers and delivering custom solutions. It founds the bank as a faithful source of information and a bank that looks after its customers’ necessities. If you are finding it difficult to write a case study on this topic you may feel free to get in touch with My Assignment Writing Help without any hesitation. 

FREQUENTLY ASKED QUESTIONS

  • What Are The 4 Pillars Of Barclays?

It will ever be leveled in the deep-rooted Values of the organization – Respect, Service, Excellence, Integrity, and Stewardship. The Barclays Code of Conduct – ‘The Barclays Way’ – summarizes the Values and Behaviours which control the way of functioning across industries all over the world. 

  • What Is Barclays Well-Known For?

From investing in the world’s first industrial steam railway in 1819 to unveiling the world’s first automated teller machine in 1967, Barclays has had a sequel of firsts to its credit in its more than 300 years of past.

  • What Challenges Are Barclays Facing?

Five main dangers might challenge Barclays: inflation, central banks, growth, and interest rates, geopolitics, and power growth. 

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