Barclays Bank PLCBCSTOP PICKOct 02, 2015Stock price when the opinion was issued
As of Jun 23, 2026. Market Open.
Best European bank? European banking is difficult, given negative interest rates. Best in class is Barclay's for its investing banking business or Lloyd's Banking. There should be more consolidation here, but it's difficult in Europe (look at ATD'B trying to buy Carrefour this month).
Likes it. They bought Lehman, which had investment banking but was really a bond house, so Dodd-Frank caused a lot of capital issues and restrictions. New management is doing a good job by sticking with investment banking and have a great retail franchise in the UK, and they exited businesses around the world that didn't work out. They're going all the right things, though Brexit creates uncertainty. Great credit card business. It will do well, but have to get past Brexit early next year.
It has been reasonably flat and has a decent dividend yield. The challenge with Canadian banks is the book value. With the fortification of BCS-N’s balance sheet he feels it is in much better shape. What he likes is that it stacks up well in terms of it’s discount. He likes the European footprint.