1690 to 1900 Barclays traces its origins back to 17 November 1690, when two
Quakers,
John Freame and Thomas Gould, started trading as
goldsmith bankers in
Lombard Street, London. The name "Barclays" became associated with the business in 1736, when Freame's son-in-law James Barclay became a partner. In 1728, the bank moved to 54 Lombard Street, identified by the "Sign of the Black Spread
Eagle", which in subsequent years would become a core part of the bank's visual identity. The Barclay family were connected with slavery, both as proponents and opponents. David and Alexander Barclay were engaged in the slave trade in 1756.
David Barclay of Youngsbury (1729–1809), on the other hand, was a noted
abolitionist, and
Verene Shepherd, the
Jamaican historian of
diaspora studies, states that he chose to
free his slaves in
that colony. In 1776, the firm was styled "Barclay, Bevan and Bening" and remained so until 1785, when another partner, John Tritton, who had married a Barclay, was admitted, and the business then became "Barclay, Bevan, Bening and Tritton". In 1896, twelve houses in London and the English provinces, notably
Goslings and Sharpe,
Backhouse's Bank of
Darlington and
Gurney's Bank of
Norwich (the latter two of which also had their roots in Quaker families), united to form Barclays and Co., a
joint-stock bank, which at its formation held around one quarter of deposits in English private banks.
1900 to 1945 and
Gracechurch Street (lower left) before its demolition in the late 1980s , southern Greater London, which was originally a branch of London and Provincial prior to acquisition by Barclays Between 1905 and 1916, Barclays extended its branch network by making acquisitions of small English banks. Further expansion followed in 1918 when Barclays amalgamated with the
London, Provincial and South Western Bank, and in 1919, when the
British Linen Bank was acquired by Barclays, although the British Linen Bank retained a separate board of directors and continued to issue its own banknotes (see
Banknotes of the pound sterling). In 1925, the
Colonial Bank,
National Bank of South Africa and the
Anglo-Egyptian Bank were amalgamated and Barclays operated its overseas operations under the name Barclays Bank (Dominion, Colonial and Overseas)—Barclays DCO. In 1941, during the German
occupation of France, a branch of Barclays in Paris, headed by Marcel Cheradame, worked directly with the invading force. Senior officials at the bank volunteered the names of Jewish employees, as well as ceding an estimated one hundred Jewish bank accounts to the German occupiers. The Paris branch used its funds to increase the operational power of a large quarry that helped produce steel for the Germans. There was no evidence of contact between the head office in London and the branch in Paris during the occupation. Marcel Cheradame was kept as the branch manager until he retired in the sixties. , United Kingdom commemorating the installation of the world's first
cash machine by Barclays in 1967 In 1965, Barclays established a US affiliate, Barclays Bank of California, in
San Francisco. Barclays launched the first credit card in the UK,
Barclaycard, in 1966. On 27 June 1967, Barclays deployed the world's first
cash machine, in
Enfield;
Barclays Bank, Enfield. The British actor
Reg Varney was the first person to use the machine. From 1972 until 1980, a minority stake in Banca Barclays Castellini SpA,
Milan was owned by the
Castellini family. In 1980, Barclays Bank International acquired the remaining stake in Barclays Castellini from the Castellini family. In August 1975, following the
secondary banking crash, Barclays acquired Mercantile Credit Company.
1980 to 2000 , photographed in 2008 before subsequent remodeling Barclays Bank International expanded its business in 1980 to include commercial credit and took over American Credit Corporation, renaming it Barclays American Corporation. During 1985 Barclays Bank and Barclays Bank International merged, and as part of the corporate reorganisation the former Barclays Bank plc became a group holding company, They were merged with Barclays Merchant Bank to form
Barclays de Zoete Wedd (BZW). Also that year Barclays sold its South African business operating under the
Barclays National Bank name after protests against Barclays' involvement in South Africa and its
apartheid government. Barclays introduced the
Connect card in June 1987, the first
debit card in the United Kingdom. In 1988, Barclays sold Barclays Bank of California, which at that time was the 17th-largest bank in California measured by assets, to
Wells Fargo for US$125 million in cash.
Edgar Pearce, the "Mardi Gra Bomber", began a terror campaign against the bank and the supermarket chain
Sainsbury's in 1994. Barclays bought Wells Fargo Nikko Investment Advisors (WFNIA) in 1996 and merged it with BZW Investment Management to form
Barclays Global Investors.
Bob Diamond took charge of the investment banking businesses that year. 80% of Barclays's revenue came from UK retail and commercial banking at that time; Diamond's goal was to compete with US
bulge-bracket investment banks, and the firm allowed him to do so despite Diamond's division losing hundreds of millions of pounds in the
1998 Russian financial crisis. Two years later, in 1998, the BZW business was broken up and the Equity and Corporate Finance divisions were sold to
Credit Suisse First Boston: Barclays retained the debt-focused Fixed Income business and Structured Capital Markets which formed the foundation of the rebranded Barclays Capital (
BarCap). Barclays Capital had offices in over 29 countries and employed over 20,000 people, with over 7,000 people working in its
IT division. Barclays, along with seven French banks, was named in a lawsuit filed in New York on behalf of Jews who were unable to reclaim money they deposited during the Nazi era. In the 1990s, Barclays helped to fund President
Robert Mugabe's government in
Zimbabwe. The most controversial of a set of loans provided by Barclays was the £30 million it gave to help sustain land reforms that saw Mugabe seize white-owned farmland and drive more than 100,000 black workers from their homes. Opponents have called the bank's involvement a "disgrace" and an "insult" to the millions who have suffered human rights abuses. A Barclays spokesman said the bank has had customers in Zimbabwe for decades and abandoning them now would make matters worse, "We are committed to continuing to provide a service to those customers in what is clearly a difficult operating environment". Barclays also provided bank accounts to two of Mugabe's associates, who were subject to European Union sanctions on Zimbabwe. The men are Elliot Manyika and minister of public service Nicholas Goche. Barclays has defended its position by insisting that the EU rules do not apply to its 67%-owned Zimbabwean subsidiary because it was incorporated outside the EU.
2000 to 2010 In August 2000, Barclays took over the recently de-mutualised
Woolwich Building Society, in a £5.4 billion acquisition. Woolwich thus joined the Barclays group of companies, and the Woolwich name was retained after the acquisition. The company's head office remained in
Bexleyheath, south-east
London, from the original head office in
Woolwich. , United Kingdom Barclays closed 171 branches in the UK in 2001, many of them in rural communities: Barclays called itself "The Big Bank", but this name was quickly given a low profile after a series of embarrassing PR stunts. On 31 October 2001, Barclays and
CIBC agreed to combine their
Caribbean operations to establish a joint venture company known as
FirstCaribbean International Bank (FCIB). In 2003, Barclays bought the American credit card company
Juniper Bank from
CIBC, re-branding it as "Barclays Bank Delaware". The same year saw the acquisition of Banco Zaragozano, the 11th-largest Spanish bank. In May 2005, Barclays moved its group headquarters from
Lombard Street in the
City of London to
One Churchill Place in
Canary Wharf. Also in 2005 Barclays sealed a £2.6bn takeover of
Absa Group Limited, South Africa's largest retail bank, acquiring a 54% stake on 27 July 2005. In 2006, Barclays purchased the HomEq Servicing Corporation for US$469 million in cash from
Wachovia Corp. That year also saw the acquisition of the financial website CompareTheLoan and Barclays announcing plans to rebrand Woolwich branches as Barclays, migrating Woolwich customers onto Barclays accounts and migrating back-office processes onto Barclays systems—the Woolwich brand was to be used for Barclays mortgages. Barclays also exited retail-banking operations in the Caribbean-region which extended as far back as 1837 through selling of its joint venture stake in FirstCaribbean International Bank (FCIB) to CIBC for between $989 million and $1.08 billion. In March 2007, Barclays announced plans to purchase
ABN AMRO, the largest bank in the Netherlands. However, on 5 October 2007 Barclays announced that it had abandoned its bid, citing inadequate support by ABN shareholders. Fewer than 80% of shares had been tendered to Barclays' cash-and-shares offer. This left the consortium led by
Royal Bank of Scotland Group free to proceed with its counter-bid for ABN AMRO. Also in 2007, Barclays agreed to purchase Equifirst Corporation from
Regions Financial Corporation for US$225 million. That year also saw Barclays Personal Investment Management announcing the closure of their operation in Peterborough and its re-siting to Glasgow, laying off nearly 900 members of staff. On 30 August 2007, Barclays borrowed £1.6 billion (US$3.2 billion) from the
Bank of England sterling standby facility. Despite rumours about liquidity at Barclays, the loan was necessary due to a technical problem with their computerised settlement network. A Barclays spokesman was quoted as saying "There are no liquidity issues in the U.K markets. Barclays itself is flush with liquidity." On 9 November 2007, Barclays shares dropped 9% and were even temporarily suspended for a short period of time, due to rumours of a £4.8 billion (US$10 billion) exposure to bad debts in the US. However, a Barclays spokesman denied the rumours. In February 2008, Barclays bought the credit card brand Goldfish for US$70 million gaining 1.7 million customers, and US$3.9 billion in receivables. Barclays also bought a controlling stake in the Russian retail bank Expobank for US$745 million. Later in the year Barclays commenced its
Pakistan operations with initial funding of US$100 million. During the
2008 financial crisis, Barclays sought to raise capital privately, avoiding direct equity investment from the UK government, which was offered to boost its capital ratio. Barclays believed that "maintaining its independence from government was in the best interests of its shareholders". In July 2008, Barclays raised £4.5 billion through a rights issue to shore up its
Tier 1 capital ratio, which involved a rights offer to existing shareholders and the sale of a stake to
Sumitomo Mitsui Banking Corporation. Only 19% of shareholders took up their rights leaving investors
China Development Bank and
Qatar Investment Authority with increased holdings in the bank.
Reuters reported in October 2008 that the
British government would inject £40 billion (US$69 billion) into three banks including Barclays, which might seek over £7 billion. Barclays later confirmed that it rejected the Government's offer and would instead raise £6.5 billion of new capital (£2 billion by cancellation of dividend and £4.5 billion from private investors). in 2009. On 12 June 2009, Barclays sold its Global Investors unit, which included its exchange-traded fund business,
iShares, to
BlackRock for US$13.5 billion. Standard Life sold Standard Life Bank to Barclays in October 2009. The sale was completed on 1 January 2010. Barclays sold its Retail Banking unit in Spain to
CaixaBank in 2014. With the sale, Caixabank acquired around 550,000 new retail and private banking clients and 2,400 employees. In March 2009, Barclays was accused of violating international anti-
money laundering laws. According to the NGO
Global Witness, the Paris branch of Barclays held the account of Equatorial Guinean President
Teodoro Obiang's son,
Teodorin Obiang, even after evidence that Obiang had siphoned oil revenues from government funds emerged in 2004. According to Global Witness, Obiang purchased a
Ferrari and maintains a mansion in
Malibu with the funds from this account. In March 2009, Barclays obtained an injunction against
The Guardian requiring it to remove from its website confidential leaked documents describing how SCM, Barclays' structured capital markets division, planned to use more than £11 billion of loans to create hundreds of millions of pounds of tax benefits, via "an elaborate circuit of
Cayman Islands companies, US partnerships and
Luxembourg subsidiaries". In an editorial on the issue,
The Guardian pointed out that, due to the mismatch of resources, tax-collectors (
HMRC) now have to rely on websites such as
WikiLeaks to obtain such documents. Separately, another Barclays
whistleblower revealed several days later that the SCM transactions had produced between £900 million and £1 billion in tax avoidance in one year, adding that "The deals start with tax and then commercial purpose is added to them." A 2010 report by
The Wall Street Journal described how
Credit Suisse, Barclays,
Lloyds Banking Group, and other banks were involved in helping the
Alavi Foundation,
Bank Melli, the Iranian government, and/or others circumvent US laws banning financial transactions with certain states. They did this by "stripping" information out of wire transfers, thereby concealing the source of funds. Barclays settled with the government for US$298 million. In February 2012, Barclays was ordered by the Treasury to pay £500 million in tax which it had tried to avoid. Barclays was accused by
HMRC of designing two schemes that were intended to avoid substantial amounts of tax. Tax rules had required the bank to tell the UK authorities about its plans. In October 2012 Barclays announced it had agreed to buy the ING Direct UK business of the
ING Group. The transfer of the business to Barclays was approved at the High Court on 20 February 2013 and
ING Direct was renamed Barclays Direct and would be integrated into the existing Barclays business within two years.
"Double Dip" tax scams On 30 June 2006,
The Wall Street Journal ran a front page, column one, article detailing how
Barclays Capital was making a giant portion of its income not through legitimate investment banking activities but through a tax dodge, a so-called "double dip", which was essentially paid for by the British and American taxpayer. It also contributed to
Peter Mandelson, UK
Business Secretary, labelling Bob Diamond "the unacceptable face of banking". The "Double Dip" tax scams were simple. Barclays and an American bank would loan, for example, an airline for the purchase of a jumbo jet. A subsidiary without any employees would be set up owned by Barclays and the American bank to handle the transaction, and the subsidiary would pay income tax on the interest income. The scam would come into effect when both Barclays and the American bank would claim the same full tax credit amount with their respective UK and American tax authorities, i.e. essentially Barclays' income from the scam was being paid for by British and American taxpayers without the respective governments and tax authorities knowing what was going on. Barclays was making over £1 billion a year from the practice. This practice ended after
The Wall Street Journal published an exposé of the scam in a front page, column one, article on 30 June 2006 by Carrick Mollenkamp, which ensured that Parliament, the Bank of England, and the UK Inland Revenue and the American Internal Revenue Service would see it and become aware of the scam, and the practice was subsequently outlawed, thus eliminating a major source of income for Barclays. It also resulted in Diamond's reputation being tarnished with Parliament and
The Bank of England and the beginning of his being branded "the unacceptable face of banking".
Lehman Brothers acquisition in New York City, now owned by Barclays On 16 September 2008, Barclays announced its agreement to purchase, subject to regulatory approval, the investment-banking and trading divisions of
Lehman Brothers (including its former headquarters at
745 Seventh Avenue). Bob Diamond led the effort, securing Barclays a presence in U.S. Equities and Investment Banking. With Lehman, he and Barclays would achieve their goal of joining the bulge bracket. On 20 September 2008, a revised version of the deal, a US$1.35 billion (£700 million) plan for Barclays to acquire the core business of Lehman Brothers (mainly Lehman's US$960 million
Midtown Manhattan office skyscraper, with responsibility for 9,000 former employees), was approved. After a seven-hour hearing, New York
bankruptcy court Judge James Peck ruled: In the amended agreement, Barclays would absorb US$47.4 billion in securities and assume US$45.5 billion in trading liabilities. Lehman's attorney
Harvey R. Miller of
Weil, Gotshal & Manges, said "the purchase price for the real estate components of the deal would be US$1.29 billion, including US$960 million for Lehman's New York headquarters and US$330 million for two New Jersey data centres. Lehman's original estimate valued its headquarters at US$1.02 billion but an appraisal from CB Richard Ellis this week valued it at US$900 million." Further, Barclays will not acquire Lehman's Eagle Energy unit, but will have entities known as Lehman Brothers Canada Inc, Lehman Brothers Sudamerica, Lehman Brothers Uruguay and its Private Investment Management business for high-net-worth individuals. Finally, Lehman will retain US$20 billion of securities assets in Lehman Brothers Inc that are not being transferred to Barclays. Barclays had a potential liability of US$2.5 billion to be paid as
severance, if it chooses not to retain some Lehman employees beyond the guaranteed 90 days. The job of integration was given to Barclays'
Rich Ricci. In September 2014, Barclays was ordered to pay $15 million in settlement charges that alleged the bank had failed to maintain an adequate internal compliance system after its acquisition of Lehman Brothers during the
2008 financial crisis.
Qatar capital raising Barclays launched a further round of capital raising, approved by special resolution on 24 November 2008, as part of its overall plan to achieve higher capital targets set by the UK's
Financial Services Authority to ensure it would remain independent. Barclays raised £7 billion from investors from Abu Dhabi and Qatar. Existing Barclays shareholders complained they were not offered full pre-emption rights in this round of capital raising, even threatening to revolt at the extraordinary meeting. Sheikh Mansour and Qatar Holding agreed to open up £500 million of their new holdings of reserve capital instruments for
clawback. Existing investors now took this up. In January 2009, the press reported that further capital may be required and that while the government might be willing to fund this, it may be unable to do so because the previous capital investment from the Qatari state was subject to a proviso that no third party might put in further money without the Qataris receiving compensation at the value the shares had commanded in October 2008. In March 2009, it was reported that in 2008, Barclays received billions of dollars from its insurance arrangements with
AIG, including US$8.5 billion from funds provided by the United States to bail out AIG. Barclays' share price fell 54% in June 2009 after the
International Petroleum Investment Company (IPIC), which had invested up to £4.75 billion in November 2008, sold 1.3 billion Barclays shares.
Qatar Holding sold a 3.5% stake worth £10 billion in October 2009, and a further sale of warrants worth around £750 million in November 2012, but remained one of the bank's largest shareholders. In July 2012, Barclays revealed that the FSA was investigating In October 2012, the
United States Department of Justice and the
US Securities and Exchange Commission informed Barclays they had commenced an investigation into whether the group's relationships with third parties who assist Barclays to win or retain business are compliant with the US
Foreign Corrupt Practices Act.
Rate-fixing scandal In June 2012, as a result of an international investigation, Barclays Bank was fined a total of £290 million (US$450 million) for manipulating the daily settings of London Interbank Offered Rate (
Libor) and the Euro Interbank Offered Rate (
Euribor). The United States Department of Justice and Barclays officially agreed that "the manipulation of the submissions affected the fixed rates on some occasions". The bank was found to have made 'inappropriate submissions' of rates which formed part of the Libor and Euribor setting processes, sometimes to make a profit, and other times to make the bank look more secure during the
2008 financial crisis. The UK's
Financial Services Authority (FSA), which levied a fine of £59.5 million ($92.7 million), gave Barclays the biggest fine it had ever imposed in its history. The FSA's director of enforcement described Barclays' behaviour as "completely unacceptable", adding "Libor is an incredibly important benchmark reference rate, and it is relied on for many, many hundreds of thousands of contracts all over the world."
Liberal Democrat politician
Lord Oakeshott criticised Diamond, saying: "If he had any shame he would go. If the Barclays board has any backbone, they'll sack him." The US Department of Justice has also been involved, with "other financial institutions and individuals" under investigation. On 3 July 2012, Bob Diamond resigned with immediate effect, leaving Marcus Agius to fill his post until a replacement is found. Within the space of a few hours, this was followed by the resignation of the Bank's chief operating officer, Jerry del Missier. Barclays subsequently announced that Antony Jenkins, its existing chief executive of Global Retail & Business Banking would become group chief executive on 30 August 2012. On 17 February 2014 the
Serious Fraud Office charged three former bank employees with manipulating Libor rates between June 2005 and August 2007. Four employees were jailed in July 2016 for up to six-and-a-half years, with two others cleared after a retrial.
2010 to 2020 In July 2013, US energy regulator the
Federal Energy Regulatory Commission (FERC) ordered Barclays to pay £299 million fine penalty for attempting to manipulate the
electricity market in the US. The fine by FERC relates to allegations in December 2008. In May 2014, the
Financial Conduct Authority fined the bank £26 million over systems and controls failures, and conflict of interest in relation to the bank and its customers in connection to the
gold fixing during the period 2004–2013, and for manipulation of the gold price on 28 June 2012. In June 2014, the US state of New York filed a lawsuit against the bank alleging it defrauded and deceived investors with inaccurate marketing material about its unregulated trading system known as a
dark pool. Specifically, the firm was accused of hiding the fact that
Tradebot participated in the dark pool when they were in fact one of the largest players. The state, in its complaint, said it was being assisted by former Barclays executives and it was seeking unspecified damages. The bank's shares dropped 5% on news of the lawsuit, prompting an announcement to the
London Stock Exchange by the bank saying it was taking the allegations seriously, and was co-operating with the
New York attorney general. A month later the bank filed a motion for the suit to be dismissed, saying there had been no fraud, no victims and no harm to anyone. The New York Attorney General's office issued a statement saying the attorney general was confident the motion would fail. On 31 January 2016, Barclays settled with both the New York Attorney General's office and the SEC, agreeing to pay $70 million split evenly between the SEC and New York state, admitting it violated securities laws and agreeing to install an independent monitor for the dark pool. To ward off the effects of
Brexit Barclays borrowed £6 billion from the
Bank of England between April and June 2017, as part of a post-referendum stimulus package launched in August 2016. In August 2021 Barclays announced a $400 million capital infusion into its business in India, which was the single largest capital infusion into its Indian business in three decades. Barclays agreed to pay $150 million to resolve an investigation by New York's banking regulator into a trading practice that allowed the bank to exploit a milliseconds-long lag between an order and its execution that sometimes hurt its clients. Barclays announced in June 2015 that it would sell its US wealth and investment management business to
Stifel for an undisclosed fee. The bank announced in May 2017 that it would sell £1.5 billion worth of shares of its
Barclays Africa Group subsidiary as part of its strategy to refocus its business from Africa to the UK and US. In September 2017, Barclays sold off the last part of its retail banking segment on continental Europe after selling its French retail, wealth and investment management operations to
AnaCap. In June 2017, following a five-year investigation by the UK's
Serious Fraud Office covering Barclays' activities during the
2008 financial crisis, former CEO
John Varley and three former colleagues,
Roger Jenkins,
Thomas Kalaris and
Richard Boath, were charged with
conspiracy to commit fraud and the provision of
unlawful financial assistance in connection with capital raising. The executives were cleared in February 2020. In February 2018, the Serious Fraud Office charged Barclays with "unlawful financial assistance" related to billions of pounds raised from the Qatar deal. On 8 June 2020, Barclays was accused of deceit by a British firm PCP Capital. The company sued the bank in a £1.5 billion lawsuit, claiming that it had "deliberately misled" the market over the terms of its capital raising deal with Qatar. PCP alleged that
Qatar Holdings was offered a "completely different" deal than that offered to
Mansour bin Zayed Al Nahyan of
Abu Dhabi, who according to Amanda Staveley was introduced to Barclays by PCP. However, during the hearing in the High Court of
London, the Barclays lawyer, Jeffery Onions accused Staveley of "significantly exaggerating" her business relationship with the Abu Dhabi sheikh and of creating a "hustle" by getting involved in a crucial capital raising. Staveley and PCP Capital subsequently reduced the amount of their claim but lost the case in the High Court.
2020 to present In February 2020, it was reported that, in a pilot programme at its London headquarters, the company used
tracking software to assess how long employees spent at their desks and warn them if they took excessive breaks. Staff who spent too much time away could find this mentioned on their daily report cards. Following criticisms by staff, the bank said it had taken steps to ensure that individual data would no longer be visible to managers, although the company still holds this data." The bank faced similar privacy concerns in 2017 when it used OccupEye sensors to track staff through black boxes in their desks. In September 2020 Barclays invested in
Barrenjoey Capital Partners, an Australian investment bank startup. In May 2022 Barclays increased its stake in the firm from 9.9 percent to 18.2 percent. On 31 October 2021, in a surprise move, group CEO Jes Staley agreed to step down amid investigation of his ties to the sex offender
Jeffrey Epstein. He was replaced as group CEO by the Indian-born American banker
C. S. Venkatakrishnan, who became the first person of Indian origin to lead Barclays. In January 2022,
François Baroin, mayor of
Troyes, became chairman of the French subsidiary of Barclays Bank, where he had served as an adviser since 2018. On 1 March 2023 Barclays acquired specialist mortgage lender, Kensington Mortgages. Kensington Mortgages, based in Maidenhead, has approximately 600 employees and originated £1.9bn of mortgages during the year ended 31 March 2022. In July 2023,
Arron Banks said that in 2018, Barclays closed his bank accounts, including business accounts, due to his political views, including his support for
Brexit. In February 2024, the bank announced the acquisition of
Tesco Bank's credit cards, loans and savings operations, with Tesco retaining its insurance, ATMs, travel money and gift card operations. The transfer was effective from 1 November 2024. In June 2024, coordinated protests by pro-Palestinian and climate activist groups vandalised Barclays branches across several UK cities, including
London,
Manchester,
Bristol,
Preston,
Glasgow,
Brighton,
Exeter,
Sheffield,
Northampton,
Birmingham, and
Solihull. Around 20 branches were targeted, with red paint sprayed on buildings and glass windows smashed. In July 2024, Barclays announced selling its German consumer finance business to Austrian bank BAWAG Group AG, following the sale of its performing Italian mortgage portfolio in April, as part of the British lender's aims to simplify its business and exit European retail banking outside of the UK. In January 2025,
Apple had talks with Barclays and
Synchrony Financial about replacing Goldman Sachs as Apple's credit card partner. In early February 2025, Barclays experienced a significant IT glitch that disrupted online and mobile banking services for several days. The issue began on a Friday, coinciding with payday for many UK workers and the self-assessment tax return deadline. Customers reported being unable to access their accounts, view accurate balances, or confirm recent transactions. Barclays assured customers that ATMs and card payments were unaffected, allowing cash withdrawals and purchases. In February 2025, The bank set aside £90 million to address potential compensation claims related to a car finance mis-selling scandal. This follows a Court of Appeal ruling that expanded the scope of the issue for lenders. In March 2025, Barclays informed the Treasury Select Committee that it faced having to pay up to £12.5 million in compensation due to technical outages over the last two years. This disclosure followed Barclays' outage in late January disrupting over half of all its online payments. The bank expected to pay £5–7.5 million for that incident, plus £5 million for others since 2023. In December 2025, it was reported that Barclays were one of the bidders in the £2.5 billion
takeover battle for
Evelyn Partners.
Environmental criticism In 2017, Barclays faced protests by environmentalists because of its ownership of
Third Energy Onshore which planned to extract natural gas using
hydraulic fracturing (fracking) at
Kirby Misperton in Yorkshire. Barclays later sold Third Energy in 2020 to Alpha Energy. In 2020, the campaign group
ShareAction filed a resolution at Barclays AGM because of its role as Europe's largest funder of fossil fuel companies. Barclays invested $85 billion in fossil fuel extraction and $24 billion in expansion. ==Operations==