With Subdued Revenue Generation, Barclays Posts Poor First Half Overshadowed by Higher Noncore Items
As with the other U.K. banks that have reported so far, Barclays was hit by payment protection insurance claims provisions during the second quarter. So far, the profit and loss trends are developing below our expectations, and so we plan to revise down our full-year net income estimate, as well as our fair value estimate, in the range of 5%-10% in our next update. We maintain our no-moat rating.PPI provisions during the first half totaled to GBP 700 million, versus GBP 400 million a year ago. ...
Barclays is a holding company. Through its subsidiaries, Co. is a financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services. Co.'s business segments are: Barclays U.K, which provides everyday products and services to retail customers and small to medium sized enterprises; Barclays International, which delivers products and services designed for Co.'s corporate, wholesale and international banking clients; and Head Office, which comprises head office and central support functions (including treasury) and businesses in transition.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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