Barclays to leverage investment banking, tech strengths to grow Asia-Pacific markets
Barclays’ Asia-Pacific operations have consistently delivered double-digit returns on tangible equity over the past five years
Barclays plans to leverage its strength in investment banking and technology to prepare for a turbulent year ahead in the region amid trade wars and recession risks, after the UK banking group produced its best returns on equity since 2021 last year.
“There’s a lot of risk in the market at the moment, with geopolitical instability, trade wars, trade tariffs and controls, cyber threats, inflation and interest-rate uncertainty creating an increasingly dynamic environment for financial institutions and our clients,” Rachel Huf, CEO of Barclays’ Hong Kong branch, said in an interview.
The group’s statutory return on tangible equity rose to 10.5 per cent in 2024 from 9 per cent in 2023, the highest since a 13.1 per cent gain in 2021. It aims to deliver 11 per cent in 2025 and 12 per cent in 2026, aided by cost and efficiency savings, according to its latest financial reports.
While Barclays does not disclose the geographic breakdown of its income, Huf said its Asia-Pacific operations had consistently delivered double-digit returns on tangible equity over the past five years to showcase its resilience and ability to compete with US and Japanese banking rivals in the region.
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Barclays ranked fifth in global debt capital markets as bookrunners in 2024, according to data compiled by Dealogic, trailing JPMorgan, Citigroup, Bank of America and Morgan Stanley. It ranked sixth in equity capital markets, behind the four US investment banks plus Goldman Sachs. Barclays was not placed in the top 10 in Asia-Pacific league tables.