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Barclays named World’s Best Bank for Markets

Barclays named World’s Best Bank for Markets

Barclays has been recognized as the World’s Best Bank for Markets during the annual global  Euromoney Awards for Excellence 2020. The award acknowledged Barclay’s transformation of sales, trading, sales, and structuring business.

According to Euromoney, Barclays received the award following a year of determination in building a successful business. The structure contributed to the highest gains in the market share and a formidable financial performance outpacing the closest competitors.

Barclays markets business had the best first-half performance in 2020, generating an income of about 63%. The performance helped clients deal with the economic impact of the coronavirus pandemic.

Barclay’s H1 2020 income grows by 62%

During H1 2020, Barclay’s markets registered an income of £4,564 million, representing a growth of 62.65% compared to £2,806million registered during the same period last year. On the other hand, Barclay’s FICC income increased 83% thanks to strong performances in macro and credit.

Barclays Global Heads of Market Stephen Dainton acknowledged the award detailing the bank’s transformational journey. According to Dainton;

“We are proud to be recognized as the world’s best bank for Markets, which speaks to the transformational journey we’ve been on to enhance our product suite, improve our technology, invest in our people, and grow our client footprint. Over the last three years, we have executed on what we said we would do. We have strong momentum across asset classes and we look forward to continuing to innovate and deliver the best possible outcomes to meet our clients’ evolving needs.”

The award comes barely a year after Euromoney named Barclay as the Best Bank in the UK and Best investment bank in the UK. The bank was also feted for its response to the coronavirus pandemic by the Excellence in leadership in Western Europe.

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Jeremy is a content crafter and has experience in writing about finances and digital assets for over 5 years. At Finbold.com he covers news related to finance, regulations, startups and cybersecurity on a daily basis.