Barclays will be releasing 3Q 2009 results on Tuesday, 10 November 2009. I’ve been bullish with Barclays for this quarter, and continue to be bullish. In the organic growth front, Barclays have been steadily moving up the league table in virtually every region in the world. In terms of inorganic growth, I think we will see some handsome realized paper profit from Lehman acquisition. Barclays have been very active in buying assets to add to its commercial banking business around the world from weaker financial institutions. The only thing that concerns me is the fact that Barclays is a British bank. I have a tendency to doubt the Brits. I don’t think there will be any surprise in terms of increased loan-loss reserves for its credit card portfolio and various other things that impacted financial names like BAC, C, or JPM. I would be concerned though if they were massaging the rate at which they increase their loan loss reserve like Citigroup did this quarter in order to report higher earnings. Barclays is a franchise to be watched.
Here’s the conference call details – I will be listening in: Press Release from Barclays Investor Realtions
A conference call for analysts and institutional investors will be hosted by Chris Lucas, Barclays
Group Finance Director. The call will commence at 09:30 (GMT) on 10 November 2009.To access the live conference call commencing at 09:30 (GMT):
Telephone numbers:
0845 401 9092 (UK)
+1 866 250 3740 (United States)
+44 (0) 20 3023 4419 (all other locations)Access code: “Barclays”
To access the live audio webcast commencing at 09:30 (GMT):
Access the live audio webcast via the investor relations website at:
www.barclays.com/investorrelations
Format: Opportunity to listen remotely to the live briefing and subsequent Q&As.
