6. Barclays PLC (NYSE:BCS)
Revenue growth past 5 years: 14.12%
Number of hedge fund holders: 21
Leading British multinational universal bank, Barclays PLC (NYSE:BCS) offers a comprehensive range of services, including retail and commercial banking, investment banking, wealth management, and more. Headquartered in London, England, the bank has a global presence spanning over 40 countries and a workforce exceeding 100,000 employees as a significant player in the global financial industry.
Barclays PLC (NYSE:BCS) reported a pre-tax profit of £8.1 billion in 2024, an impressive 24% increase from the previous year. The strong performance was mainly driven by its investment banking sector and domestic retail division. The investment banking arm contributed £11.8 billion to the total income due to favorable market conditions, particularly in the U.S. With the integration of Tesco Bank’s credit cards, loans, and savings operations, the domestic retail division significantly picked up. This strategic acquisition solidified the Barclays PLC (NYSE:BCS) footprint in the UK retail banking sector, strengthening its market position.
The broader banking sector, especially in the UK, has been marked with economic uncertainties and regulatory changes. For future-readiness, Barclays is proactively planning its outlook and has set key objectives to focus on reducing costs by £2 billion by 2026, achieving a return on tangible equity (RoTE) of over 12%, and returning £10 billion to shareholders over the three-year period. The bank projects a net interest income of £12.2 billion in 2025, up from £11.2 billion in 2024, and targets a group total income of around £30 billion, with plans to reduce its cost-to-income ratio to the high 50s. These goals reflect Barclays’ commitment to enhancing shareholder value. The bank’s proactive approach to navigating challenges is likely to instill investor confidence and continued interest.
As a major global player in the financial industry, Barclays PLC (NYSE:BCS), is in a unique position to continue on a growth trajectory.
