View more on these topics

Barclays ‘most exposed’ to Brexit fallout


Analysts have warned Barclays is the British bank most exposed in the event of the UK voting to leave the EU.

The Daily Telegraph reports Barclays’ share price is highly correlated with moves in sterling, accounting for 80 per cent of the stock’s movement over the past 18 months.

Jefferies analyst Joseph Dickerson says: “Barclays could have the highest direct functional impact as a result of a leave as a result of its exposure to investment banking and corporate banking.

“Lloyds would face a second-order impact. Two-thirds of its balance sheet is mortgages, there is more of an indirect consequence, after, say, unemployment has been impacted and the overall economy is impacted.”

But Dickerson is recommending Barclays as a “buy”, because he believes voters will choose to remain in the EU come the referendum on 23 June. The bank’s stocks are likely to rise on such a result.



Barclays 2015 profits dip 2% to £5.4bn

Barclays Group made a £5.4bn profit before tax in 2015, down 2 per cent on £5.5bn in 2014. Barclay’s personal banking income dropped 3 per cent in 2015 to around £4bn, caused by mortgage margin pressure and a drop in fee income. Total incentives, including bonuses, were £1.6bn in 2015, down 10 per cent from […]


Carney denies BoE is ‘politically involved’ in Brexit debate

Bank of England governor Mark Carney says the central bank has remained independent in the Brexit debate, despite its recent warnings on economic uncertainties around the referendum. Speaking to the Treasury committee, Carney says there is “no possibility” of the central bank having been influenced by the Government on taking a firm position on the […]


Osborne: Brexit would spark year-long recession

The Treasury has warned a vote to leave the European Union would trigger a year-long recession and a 3.6 per cent decline in economic growth. According to the BBC, Chancellor George Osborne says in a Treasury study the UK would suffer an “immediate and profound” economic shock of its own making in the event of a […]

'Feeling the Squeeze'

Royal London carried out a UK wide survey with 2,500 consumers age 35-44 over the summer. The survey found that over a third, 34 per cent, said their finances felt Squeezed and so were struggling to meet day-to-day expenses, despite 87 per cent being aware that they need to save more. However, the survey did […]


News and expert analysis straight to your inbox

Sign up
  • Post a comment
  • Samantha Cox 14th June 2016 at 7:04 pm

    This article is at Odds with Barclays own summation of it’s position i feel. Today i have attended a seminar where Barclays are pushing their SpringBoard mortgage, given that this scheme pretty much relies in the future growth of a property so they can return the parents cash deposit after 3 years, you would think that Barclays must expect property to rise not fall. Unless it is the initial cash deposit they are interested in at this time,to help balance the books for the next 3 years?

  • Simon R 14th June 2016 at 4:52 pm

    Complete nonsense