Barclays Global Retail Bankin

RNS Number : 5119O

Barclays PLC

30 June 2010

 



30 June 2010

Barclays PLC

Global Retail Banking Investor Seminar

Barclays PLC ("Barclays") is holding an investor seminar today focused on Global Retail Banking ("GRB") comprising UK Retail Banking, Barclaycard, Western Europe Retail Banking and Barclays Africa.

The presentations will principally cover the strategy, operations and performance of GRB and will set out the financial objectives for GRB over the period 2010-2013.  In particular, the presentations set out plans over this period for achieving GRB's targets of:

 - mid-single digit compound annual growth for income;

 - broadly stable net interest margins; and

 - tight cost control to deliver average net cost growth of 2-3% per annum from a 2009 baseline of £5.7 billion.

These targets, which are subject to current macro-economic planning assumptions, are designed to deliver strong compound annual profit growth over the period 2010 to 2013 for GRB in aggregate.

In this context Barclays has set a target for GRB to achieve an average return on equity through the cycle of 13-15%. 

A copy of the presentations is available in the Investor Relations section of the Barclays Group website and accompanying remarks will be posted on the website shortly after the speakers conclude their comments.

The seminar will commence at 12:00 London time for registration and lunch, followed by the presentations from 13:00-17:00.  To access the live conference call, please dial 0845 401 9092 (UK), [phone] (US) or [phone] (all other locations).  Access code: 'Barclays'. A live webcast of the call will also be available at: www.barclays.com/investorrelations.

-ENDS-

For further information please contact:

Investor Relations	Media Relations
Stephen Jones	Alistair Smith
[phone]	[phone]

About Barclays PLC

Barclays is a major global financial services provider engaged in retail banking, credit cards, corporate and investment banking and wealth management with an extensive international presence in Europe, the Americas, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 144,000 people. Barclays moves, lends, invests and protects money for over 48 million customers and clients worldwide. For further information about Barclays, please visit our website www.barclays.com.

 

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