Barclays' four centuries of growth and provision of services in retail banking such as current accounts, savings and investments, mortgages and other loans, credit cards and online banking were surprisingly responsive to the instability present within international financial investment and services corporations across the board (Hoovers 2010). The company also holds majority apportionment of Absa Group insurance (i.e. 59% stockholder). Representation of the Barclaycard in the Spring 2010: Investors Presentation Post Q1 IMS indicated that despite the retraction of revenues from revolving credit within this sector, Barclays saw 'strong income growth largely offset by increased impairment' and 'international diversification of business' with over 50% of the card's customers outside the UK (Barclays 2010). Credit market exposures reduced by 22BN, with protium loans at 7.9BN as of December 31, 2009.
Dating to the 17th century, Barclays Bank is the flagship subsidiary of Barclays PLC financial services group, with retail and commercial operations in 50 countries throughout Africa, Europe and the Middle East. In 2010, Barclays acquired the Italian credit card business of Citibank International Bank; a deal that absorbed 197,000 credit card accounts and approximately 234 million ($320 million) worth of assets globally. ...Show more