The proposed deal's valuation for Tesco Bank assets remains undisclosed. However, the company reported \u00a357 million in pre-tax profits in the six months leading up to August 31, 2023, with a book value close to \u00a31.5 billion at the end of the period.<\/p>\n\n\n\n
In September, Barclays entered the $1.5 trillion private credit market through a partnership with AGL Credit Management<\/a>, The Distributed<\/em> reported. This collaboration aims to merge Barclays' loan origination capabilities with AGL's expertise in credit investments.<\/p>\n\n\n\n AGL Credit, co-founded by industry veterans Peter Gleysteen and the late Thomas Lee, traditionally focused on bank loans and collateralized loan obligations (CLOs). <\/p>\n","post_title":"Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-eyes-tesco-bank-acquisition-in-push-for-retail-banking-growth","to_ping":"","pinged":"","post_modified":"2023-11-20 16:02:42","post_modified_gmt":"2023-11-20 05:02:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The proposed deal's valuation for Tesco Bank assets remains undisclosed. However, the company reported \u00a357 million in pre-tax profits in the six months leading up to August 31, 2023, with a book value close to \u00a31.5 billion at the end of the period.<\/p>\n\n\n\n In September, Barclays entered the $1.5 trillion private credit market through a partnership with AGL Credit Management<\/a>, The Distributed<\/em> reported. This collaboration aims to merge Barclays' loan origination capabilities with AGL's expertise in credit investments.<\/p>\n\n\n\n AGL Credit, co-founded by industry veterans Peter Gleysteen and the late Thomas Lee, traditionally focused on bank loans and collateralized loan obligations (CLOs). <\/p>\n","post_title":"Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-eyes-tesco-bank-acquisition-in-push-for-retail-banking-growth","to_ping":"","pinged":"","post_modified":"2023-11-20 16:02:42","post_modified_gmt":"2023-11-20 05:02:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Tesco Bank, established in 1997 as a joint venture between the supermarket giant and Royal Bank of Scotland, witnessed Tesco's banking acquisition gradual increase in control over the years. Despite once considering it a growth area, Tesco has been scaling back its banking services, discontinuing current accounts, and offloading its mortgage portfolio to Lloyds Banking Group.<\/p>\n\n\n\n The proposed deal's valuation for Tesco Bank assets remains undisclosed. However, the company reported \u00a357 million in pre-tax profits in the six months leading up to August 31, 2023, with a book value close to \u00a31.5 billion at the end of the period.<\/p>\n\n\n\n In September, Barclays entered the $1.5 trillion private credit market through a partnership with AGL Credit Management<\/a>, The Distributed<\/em> reported. This collaboration aims to merge Barclays' loan origination capabilities with AGL's expertise in credit investments.<\/p>\n\n\n\n AGL Credit, co-founded by industry veterans Peter Gleysteen and the late Thomas Lee, traditionally focused on bank loans and collateralized loan obligations (CLOs). <\/p>\n","post_title":"Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-eyes-tesco-bank-acquisition-in-push-for-retail-banking-growth","to_ping":"","pinged":"","post_modified":"2023-11-20 16:02:42","post_modified_gmt":"2023-11-20 05:02:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related:<\/em><\/strong> Central Bank Digital Currencies<\/a><\/p>\n\n\n\n Tesco Bank, established in 1997 as a joint venture between the supermarket giant and Royal Bank of Scotland, witnessed Tesco's banking acquisition gradual increase in control over the years. Despite once considering it a growth area, Tesco has been scaling back its banking services, discontinuing current accounts, and offloading its mortgage portfolio to Lloyds Banking Group.<\/p>\n\n\n\n The proposed deal's valuation for Tesco Bank assets remains undisclosed. However, the company reported \u00a357 million in pre-tax profits in the six months leading up to August 31, 2023, with a book value close to \u00a31.5 billion at the end of the period.<\/p>\n\n\n\n In September, Barclays entered the $1.5 trillion private credit market through a partnership with AGL Credit Management<\/a>, The Distributed<\/em> reported. This collaboration aims to merge Barclays' loan origination capabilities with AGL's expertise in credit investments.<\/p>\n\n\n\n AGL Credit, co-founded by industry veterans Peter Gleysteen and the late Thomas Lee, traditionally focused on bank loans and collateralized loan obligations (CLOs). <\/p>\n","post_title":"Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-eyes-tesco-bank-acquisition-in-push-for-retail-banking-growth","to_ping":"","pinged":"","post_modified":"2023-11-20 16:02:42","post_modified_gmt":"2023-11-20 05:02:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Barclays' interest in Tesco Bank marks a strategic step to bolster its domestic retail banking arm during a period when the group is aiming to strengthen its share price. This pursuit follows Barclays' recent acquisition of Kensington Mortgages.<\/p>\n\n\n\n See Related:<\/em><\/strong> Central Bank Digital Currencies<\/a><\/p>\n\n\n\n Tesco Bank, established in 1997 as a joint venture between the supermarket giant and Royal Bank of Scotland, witnessed Tesco's banking acquisition gradual increase in control over the years. Despite once considering it a growth area, Tesco has been scaling back its banking services, discontinuing current accounts, and offloading its mortgage portfolio to Lloyds Banking Group.<\/p>\n\n\n\n The proposed deal's valuation for Tesco Bank assets remains undisclosed. However, the company reported \u00a357 million in pre-tax profits in the six months leading up to August 31, 2023, with a book value close to \u00a31.5 billion at the end of the period.<\/p>\n\n\n\n In September, Barclays entered the $1.5 trillion private credit market through a partnership with AGL Credit Management<\/a>, The Distributed<\/em> reported. This collaboration aims to merge Barclays' loan origination capabilities with AGL's expertise in credit investments.<\/p>\n\n\n\n AGL Credit, co-founded by industry veterans Peter Gleysteen and the late Thomas Lee, traditionally focused on bank loans and collateralized loan obligations (CLOs). <\/p>\n","post_title":"Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-eyes-tesco-bank-acquisition-in-push-for-retail-banking-growth","to_ping":"","pinged":"","post_modified":"2023-11-20 16:02:42","post_modified_gmt":"2023-11-20 05:02:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
According to a report by Reuters<\/em> quoting sources familiar with the matter, Barclays has put forth a preliminary offer<\/a>, mainly focusing on Tesco Bank's credit card and savings account products.<\/p>\n\n\n\n Barclays' interest in Tesco Bank marks a strategic step to bolster its domestic retail banking arm during a period when the group is aiming to strengthen its share price. This pursuit follows Barclays' recent acquisition of Kensington Mortgages.<\/p>\n\n\n\n See Related:<\/em><\/strong> Central Bank Digital Currencies<\/a><\/p>\n\n\n\n Tesco Bank, established in 1997 as a joint venture between the supermarket giant and Royal Bank of Scotland, witnessed Tesco's banking acquisition gradual increase in control over the years. Despite once considering it a growth area, Tesco has been scaling back its banking services, discontinuing current accounts, and offloading its mortgage portfolio to Lloyds Banking Group.<\/p>\n\n\n\n The proposed deal's valuation for Tesco Bank assets remains undisclosed. However, the company reported \u00a357 million in pre-tax profits in the six months leading up to August 31, 2023, with a book value close to \u00a31.5 billion at the end of the period.<\/p>\n\n\n\n In September, Barclays entered the $1.5 trillion private credit market through a partnership with AGL Credit Management<\/a>, The Distributed<\/em> reported. This collaboration aims to merge Barclays' loan origination capabilities with AGL's expertise in credit investments.<\/p>\n\n\n\n AGL Credit, co-founded by industry veterans Peter Gleysteen and the late Thomas Lee, traditionally focused on bank loans and collateralized loan obligations (CLOs). <\/p>\n","post_title":"Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-eyes-tesco-bank-acquisition-in-push-for-retail-banking-growth","to_ping":"","pinged":"","post_modified":"2023-11-20 16:02:42","post_modified_gmt":"2023-11-20 05:02:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Barclays is exploring a potential acquisition of Tesco's banking operations. Amidst efforts by the British retailer to minimize its financial services, Barclays has emerged as one of the potential parties aiming to acquire a stake in Tesco Bank.<\/p>\n\n\n\n According to a report by Reuters<\/em> quoting sources familiar with the matter, Barclays has put forth a preliminary offer<\/a>, mainly focusing on Tesco Bank's credit card and savings account products.<\/p>\n\n\n\n Barclays' interest in Tesco Bank marks a strategic step to bolster its domestic retail banking arm during a period when the group is aiming to strengthen its share price. This pursuit follows Barclays' recent acquisition of Kensington Mortgages.<\/p>\n\n\n\n See Related:<\/em><\/strong> Central Bank Digital Currencies<\/a><\/p>\n\n\n\n Tesco Bank, established in 1997 as a joint venture between the supermarket giant and Royal Bank of Scotland, witnessed Tesco's banking acquisition gradual increase in control over the years. Despite once considering it a growth area, Tesco has been scaling back its banking services, discontinuing current accounts, and offloading its mortgage portfolio to Lloyds Banking Group.<\/p>\n\n\n\n The proposed deal's valuation for Tesco Bank assets remains undisclosed. However, the company reported \u00a357 million in pre-tax profits in the six months leading up to August 31, 2023, with a book value close to \u00a31.5 billion at the end of the period.<\/p>\n\n\n\n In September, Barclays entered the $1.5 trillion private credit market through a partnership with AGL Credit Management<\/a>, The Distributed<\/em> reported. This collaboration aims to merge Barclays' loan origination capabilities with AGL's expertise in credit investments.<\/p>\n\n\n\n AGL Credit, co-founded by industry veterans Peter Gleysteen and the late Thomas Lee, traditionally focused on bank loans and collateralized loan obligations (CLOs). <\/p>\n","post_title":"Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-eyes-tesco-bank-acquisition-in-push-for-retail-banking-growth","to_ping":"","pinged":"","post_modified":"2023-11-20 16:02:42","post_modified_gmt":"2023-11-20 05:02:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Barclays is exploring a potential acquisition of Tesco's banking operations. Amidst efforts by the British retailer to minimize its financial services, Barclays has emerged as one of the potential parties aiming to acquire a stake in Tesco Bank.<\/p>\n\n\n\n According to a report by Reuters<\/em> quoting sources familiar with the matter, Barclays has put forth a preliminary offer<\/a>, mainly focusing on Tesco Bank's credit card and savings account products.<\/p>\n\n\n\n Barclays' interest in Tesco Bank marks a strategic step to bolster its domestic retail banking arm during a period when the group is aiming to strengthen its share price. This pursuit follows Barclays' recent acquisition of Kensington Mortgages.<\/p>\n\n\n\n See Related:<\/em><\/strong> Central Bank Digital Currencies<\/a><\/p>\n\n\n\n Tesco Bank, established in 1997 as a joint venture between the supermarket giant and Royal Bank of Scotland, witnessed Tesco's banking acquisition gradual increase in control over the years. Despite once considering it a growth area, Tesco has been scaling back its banking services, discontinuing current accounts, and offloading its mortgage portfolio to Lloyds Banking Group.<\/p>\n\n\n\n The proposed deal's valuation for Tesco Bank assets remains undisclosed. However, the company reported \u00a357 million in pre-tax profits in the six months leading up to August 31, 2023, with a book value close to \u00a31.5 billion at the end of the period.<\/p>\n\n\n\n In September, Barclays entered the $1.5 trillion private credit market through a partnership with AGL Credit Management<\/a>, The Distributed<\/em> reported. This collaboration aims to merge Barclays' loan origination capabilities with AGL's expertise in credit investments.<\/p>\n\n\n\n AGL Credit, co-founded by industry veterans Peter Gleysteen and the late Thomas Lee, traditionally focused on bank loans and collateralized loan obligations (CLOs). <\/p>\n","post_title":"Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-eyes-tesco-bank-acquisition-in-push-for-retail-banking-growth","to_ping":"","pinged":"","post_modified":"2023-11-20 16:02:42","post_modified_gmt":"2023-11-20 05:02:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Barclays is exploring a potential acquisition of Tesco's banking operations. Amidst efforts by the British retailer to minimize its financial services, Barclays has emerged as one of the potential parties aiming to acquire a stake in Tesco Bank.<\/p>\n\n\n\n According to a report by Reuters<\/em> quoting sources familiar with the matter, Barclays has put forth a preliminary offer<\/a>, mainly focusing on Tesco Bank's credit card and savings account products.<\/p>\n\n\n\n Barclays' interest in Tesco Bank marks a strategic step to bolster its domestic retail banking arm during a period when the group is aiming to strengthen its share price. This pursuit follows Barclays' recent acquisition of Kensington Mortgages.<\/p>\n\n\n\n See Related:<\/em><\/strong> Central Bank Digital Currencies<\/a><\/p>\n\n\n\n Tesco Bank, established in 1997 as a joint venture between the supermarket giant and Royal Bank of Scotland, witnessed Tesco's banking acquisition gradual increase in control over the years. Despite once considering it a growth area, Tesco has been scaling back its banking services, discontinuing current accounts, and offloading its mortgage portfolio to Lloyds Banking Group.<\/p>\n\n\n\n The proposed deal's valuation for Tesco Bank assets remains undisclosed. However, the company reported \u00a357 million in pre-tax profits in the six months leading up to August 31, 2023, with a book value close to \u00a31.5 billion at the end of the period.<\/p>\n\n\n\n In September, Barclays entered the $1.5 trillion private credit market through a partnership with AGL Credit Management<\/a>, The Distributed<\/em> reported. This collaboration aims to merge Barclays' loan origination capabilities with AGL's expertise in credit investments.<\/p>\n\n\n\n AGL Credit, co-founded by industry veterans Peter Gleysteen and the late Thomas Lee, traditionally focused on bank loans and collateralized loan obligations (CLOs). <\/p>\n","post_title":"Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-eyes-tesco-bank-acquisition-in-push-for-retail-banking-growth","to_ping":"","pinged":"","post_modified":"2023-11-20 16:02:42","post_modified_gmt":"2023-11-20 05:02:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Barclays is exploring a potential acquisition of Tesco's banking operations. Amidst efforts by the British retailer to minimize its financial services, Barclays has emerged as one of the potential parties aiming to acquire a stake in Tesco Bank.<\/p>\n\n\n\n According to a report by Reuters<\/em> quoting sources familiar with the matter, Barclays has put forth a preliminary offer<\/a>, mainly focusing on Tesco Bank's credit card and savings account products.<\/p>\n\n\n\n Barclays' interest in Tesco Bank marks a strategic step to bolster its domestic retail banking arm during a period when the group is aiming to strengthen its share price. This pursuit follows Barclays' recent acquisition of Kensington Mortgages.<\/p>\n\n\n\n See Related:<\/em><\/strong> Central Bank Digital Currencies<\/a><\/p>\n\n\n\n Tesco Bank, established in 1997 as a joint venture between the supermarket giant and Royal Bank of Scotland, witnessed Tesco's banking acquisition gradual increase in control over the years. Despite once considering it a growth area, Tesco has been scaling back its banking services, discontinuing current accounts, and offloading its mortgage portfolio to Lloyds Banking Group.<\/p>\n\n\n\n The proposed deal's valuation for Tesco Bank assets remains undisclosed. However, the company reported \u00a357 million in pre-tax profits in the six months leading up to August 31, 2023, with a book value close to \u00a31.5 billion at the end of the period.<\/p>\n\n\n\n In September, Barclays entered the $1.5 trillion private credit market through a partnership with AGL Credit Management<\/a>, The Distributed<\/em> reported. This collaboration aims to merge Barclays' loan origination capabilities with AGL's expertise in credit investments.<\/p>\n\n\n\n AGL Credit, co-founded by industry veterans Peter Gleysteen and the late Thomas Lee, traditionally focused on bank loans and collateralized loan obligations (CLOs). <\/p>\n","post_title":"Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-eyes-tesco-bank-acquisition-in-push-for-retail-banking-growth","to_ping":"","pinged":"","post_modified":"2023-11-20 16:02:42","post_modified_gmt":"2023-11-20 05:02:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Texas, with its surging population and infrastructure demands, has become a pivotal market for municipal bond sales. Barclays' exclusion from underwriting public securities significantly blows its public finance department. The repercussions extend beyond a mere disagreement over ESG practices, impacting the bank's access to new business opportunities in the thriving Texas market.<\/p>\n","post_title":"Texas Bars Barclays From Bond Deals Over ESG Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"texas-bars-barclays-from-bond-deals-over-esg-concerns","to_ping":"","pinged":"","post_modified":"2024-01-28 12:14:54","post_modified_gmt":"2024-01-28 01:14:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15138","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14371,"post_author":"1","post_date":"2023-11-19 03:50:56","post_date_gmt":"2023-11-18 16:50:56","post_content":"\n Barclays is exploring a potential acquisition of Tesco's banking operations. Amidst efforts by the British retailer to minimize its financial services, Barclays has emerged as one of the potential parties aiming to acquire a stake in Tesco Bank.<\/p>\n\n\n\n According to a report by Reuters<\/em> quoting sources familiar with the matter, Barclays has put forth a preliminary offer<\/a>, mainly focusing on Tesco Bank's credit card and savings account products.<\/p>\n\n\n\n Barclays' interest in Tesco Bank marks a strategic step to bolster its domestic retail banking arm during a period when the group is aiming to strengthen its share price. This pursuit follows Barclays' recent acquisition of Kensington Mortgages.<\/p>\n\n\n\n See Related:<\/em><\/strong> Central Bank Digital Currencies<\/a><\/p>\n\n\n\n Tesco Bank, established in 1997 as a joint venture between the supermarket giant and Royal Bank of Scotland, witnessed Tesco's banking acquisition gradual increase in control over the years. Despite once considering it a growth area, Tesco has been scaling back its banking services, discontinuing current accounts, and offloading its mortgage portfolio to Lloyds Banking Group.<\/p>\n\n\n\n The proposed deal's valuation for Tesco Bank assets remains undisclosed. However, the company reported \u00a357 million in pre-tax profits in the six months leading up to August 31, 2023, with a book value close to \u00a31.5 billion at the end of the period.<\/p>\n\n\n\n In September, Barclays entered the $1.5 trillion private credit market through a partnership with AGL Credit Management<\/a>, The Distributed<\/em> reported. This collaboration aims to merge Barclays' loan origination capabilities with AGL's expertise in credit investments.<\/p>\n\n\n\n AGL Credit, co-founded by industry veterans Peter Gleysteen and the late Thomas Lee, traditionally focused on bank loans and collateralized loan obligations (CLOs). <\/p>\n","post_title":"Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-eyes-tesco-bank-acquisition-in-push-for-retail-banking-growth","to_ping":"","pinged":"","post_modified":"2023-11-20 16:02:42","post_modified_gmt":"2023-11-20 05:02:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The clash reveals a potential disconnect between the alliance's commitments and the expectations of Texas's authorities, leaving Barclays facing the consequences of its ESG stance.<\/p>\n\n\n\n Texas, with its surging population and infrastructure demands, has become a pivotal market for municipal bond sales. Barclays' exclusion from underwriting public securities significantly blows its public finance department. The repercussions extend beyond a mere disagreement over ESG practices, impacting the bank's access to new business opportunities in the thriving Texas market.<\/p>\n","post_title":"Texas Bars Barclays From Bond Deals Over ESG Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"texas-bars-barclays-from-bond-deals-over-esg-concerns","to_ping":"","pinged":"","post_modified":"2024-01-28 12:14:54","post_modified_gmt":"2024-01-28 01:14:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15138","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14371,"post_author":"1","post_date":"2023-11-19 03:50:56","post_date_gmt":"2023-11-18 16:50:56","post_content":"\n Barclays is exploring a potential acquisition of Tesco's banking operations. Amidst efforts by the British retailer to minimize its financial services, Barclays has emerged as one of the potential parties aiming to acquire a stake in Tesco Bank.<\/p>\n\n\n\n According to a report by Reuters<\/em> quoting sources familiar with the matter, Barclays has put forth a preliminary offer<\/a>, mainly focusing on Tesco Bank's credit card and savings account products.<\/p>\n\n\n\n Barclays' interest in Tesco Bank marks a strategic step to bolster its domestic retail banking arm during a period when the group is aiming to strengthen its share price. This pursuit follows Barclays' recent acquisition of Kensington Mortgages.<\/p>\n\n\n\n See Related:<\/em><\/strong> Central Bank Digital Currencies<\/a><\/p>\n\n\n\n Tesco Bank, established in 1997 as a joint venture between the supermarket giant and Royal Bank of Scotland, witnessed Tesco's banking acquisition gradual increase in control over the years. Despite once considering it a growth area, Tesco has been scaling back its banking services, discontinuing current accounts, and offloading its mortgage portfolio to Lloyds Banking Group.<\/p>\n\n\n\n The proposed deal's valuation for Tesco Bank assets remains undisclosed. However, the company reported \u00a357 million in pre-tax profits in the six months leading up to August 31, 2023, with a book value close to \u00a31.5 billion at the end of the period.<\/p>\n\n\n\n In September, Barclays entered the $1.5 trillion private credit market through a partnership with AGL Credit Management<\/a>, The Distributed<\/em> reported. This collaboration aims to merge Barclays' loan origination capabilities with AGL's expertise in credit investments.<\/p>\n\n\n\n AGL Credit, co-founded by industry veterans Peter Gleysteen and the late Thomas Lee, traditionally focused on bank loans and collateralized loan obligations (CLOs). <\/p>\n","post_title":"Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-eyes-tesco-bank-acquisition-in-push-for-retail-banking-growth","to_ping":"","pinged":"","post_modified":"2023-11-20 16:02:42","post_modified_gmt":"2023-11-20 05:02:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
While Barclays<\/a> proudly claims membership in the Net-Zero Banking Alliance, dedicated to achieving net-zero greenhouse gas emissions by 2050, this affiliation has not shielded the bank from Texas' stringent scrutiny.<\/p>\n\n\n\n The clash reveals a potential disconnect between the alliance's commitments and the expectations of Texas's authorities, leaving Barclays facing the consequences of its ESG stance.<\/p>\n\n\n\n Texas, with its surging population and infrastructure demands, has become a pivotal market for municipal bond sales. Barclays' exclusion from underwriting public securities significantly blows its public finance department. The repercussions extend beyond a mere disagreement over ESG practices, impacting the bank's access to new business opportunities in the thriving Texas market.<\/p>\n","post_title":"Texas Bars Barclays From Bond Deals Over ESG Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"texas-bars-barclays-from-bond-deals-over-esg-concerns","to_ping":"","pinged":"","post_modified":"2024-01-28 12:14:54","post_modified_gmt":"2024-01-28 01:14:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15138","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14371,"post_author":"1","post_date":"2023-11-19 03:50:56","post_date_gmt":"2023-11-18 16:50:56","post_content":"\n Barclays is exploring a potential acquisition of Tesco's banking operations. Amidst efforts by the British retailer to minimize its financial services, Barclays has emerged as one of the potential parties aiming to acquire a stake in Tesco Bank.<\/p>\n\n\n\n According to a report by Reuters<\/em> quoting sources familiar with the matter, Barclays has put forth a preliminary offer<\/a>, mainly focusing on Tesco Bank's credit card and savings account products.<\/p>\n\n\n\n Barclays' interest in Tesco Bank marks a strategic step to bolster its domestic retail banking arm during a period when the group is aiming to strengthen its share price. This pursuit follows Barclays' recent acquisition of Kensington Mortgages.<\/p>\n\n\n\n See Related:<\/em><\/strong> Central Bank Digital Currencies<\/a><\/p>\n\n\n\n Tesco Bank, established in 1997 as a joint venture between the supermarket giant and Royal Bank of Scotland, witnessed Tesco's banking acquisition gradual increase in control over the years. Despite once considering it a growth area, Tesco has been scaling back its banking services, discontinuing current accounts, and offloading its mortgage portfolio to Lloyds Banking Group.<\/p>\n\n\n\n The proposed deal's valuation for Tesco Bank assets remains undisclosed. However, the company reported \u00a357 million in pre-tax profits in the six months leading up to August 31, 2023, with a book value close to \u00a31.5 billion at the end of the period.<\/p>\n\n\n\n In September, Barclays entered the $1.5 trillion private credit market through a partnership with AGL Credit Management<\/a>, The Distributed<\/em> reported. This collaboration aims to merge Barclays' loan origination capabilities with AGL's expertise in credit investments.<\/p>\n\n\n\n AGL Credit, co-founded by industry veterans Peter Gleysteen and the late Thomas Lee, traditionally focused on bank loans and collateralized loan obligations (CLOs). <\/p>\n","post_title":"Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-eyes-tesco-bank-acquisition-in-push-for-retail-banking-growth","to_ping":"","pinged":"","post_modified":"2023-11-20 16:02:42","post_modified_gmt":"2023-11-20 05:02:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The stakes are high for Barclays, given that it is the 11th-largest underwriter of municipal bonds in 2023 and holds the ninth-largest management position in Texas. The fallout from this clash could reshape the landscape of Barclays' municipal bond activities in the state.<\/p>\n\n\n\n While Barclays<\/a> proudly claims membership in the Net-Zero Banking Alliance, dedicated to achieving net-zero greenhouse gas emissions by 2050, this affiliation has not shielded the bank from Texas' stringent scrutiny.<\/p>\n\n\n\n The clash reveals a potential disconnect between the alliance's commitments and the expectations of Texas's authorities, leaving Barclays facing the consequences of its ESG stance.<\/p>\n\n\n\n Texas, with its surging population and infrastructure demands, has become a pivotal market for municipal bond sales. Barclays' exclusion from underwriting public securities significantly blows its public finance department. The repercussions extend beyond a mere disagreement over ESG practices, impacting the bank's access to new business opportunities in the thriving Texas market.<\/p>\n","post_title":"Texas Bars Barclays From Bond Deals Over ESG Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"texas-bars-barclays-from-bond-deals-over-esg-concerns","to_ping":"","pinged":"","post_modified":"2024-01-28 12:14:54","post_modified_gmt":"2024-01-28 01:14:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15138","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14371,"post_author":"1","post_date":"2023-11-19 03:50:56","post_date_gmt":"2023-11-18 16:50:56","post_content":"\n Barclays is exploring a potential acquisition of Tesco's banking operations. Amidst efforts by the British retailer to minimize its financial services, Barclays has emerged as one of the potential parties aiming to acquire a stake in Tesco Bank.<\/p>\n\n\n\n According to a report by Reuters<\/em> quoting sources familiar with the matter, Barclays has put forth a preliminary offer<\/a>, mainly focusing on Tesco Bank's credit card and savings account products.<\/p>\n\n\n\n Barclays' interest in Tesco Bank marks a strategic step to bolster its domestic retail banking arm during a period when the group is aiming to strengthen its share price. This pursuit follows Barclays' recent acquisition of Kensington Mortgages.<\/p>\n\n\n\n See Related:<\/em><\/strong> Central Bank Digital Currencies<\/a><\/p>\n\n\n\n Tesco Bank, established in 1997 as a joint venture between the supermarket giant and Royal Bank of Scotland, witnessed Tesco's banking acquisition gradual increase in control over the years. Despite once considering it a growth area, Tesco has been scaling back its banking services, discontinuing current accounts, and offloading its mortgage portfolio to Lloyds Banking Group.<\/p>\n\n\n\n The proposed deal's valuation for Tesco Bank assets remains undisclosed. However, the company reported \u00a357 million in pre-tax profits in the six months leading up to August 31, 2023, with a book value close to \u00a31.5 billion at the end of the period.<\/p>\n\n\n\n In September, Barclays entered the $1.5 trillion private credit market through a partnership with AGL Credit Management<\/a>, The Distributed<\/em> reported. This collaboration aims to merge Barclays' loan origination capabilities with AGL's expertise in credit investments.<\/p>\n\n\n\n AGL Credit, co-founded by industry veterans Peter Gleysteen and the late Thomas Lee, traditionally focused on bank loans and collateralized loan obligations (CLOs). <\/p>\n","post_title":"Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-eyes-tesco-bank-acquisition-in-push-for-retail-banking-growth","to_ping":"","pinged":"","post_modified":"2023-11-20 16:02:42","post_modified_gmt":"2023-11-20 05:02:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The stakes are high for Barclays, given that it is the 11th-largest underwriter of municipal bonds in 2023 and holds the ninth-largest management position in Texas. The fallout from this clash could reshape the landscape of Barclays' municipal bond activities in the state.<\/p>\n\n\n\n While Barclays<\/a> proudly claims membership in the Net-Zero Banking Alliance, dedicated to achieving net-zero greenhouse gas emissions by 2050, this affiliation has not shielded the bank from Texas' stringent scrutiny.<\/p>\n\n\n\n The clash reveals a potential disconnect between the alliance's commitments and the expectations of Texas's authorities, leaving Barclays facing the consequences of its ESG stance.<\/p>\n\n\n\n Texas, with its surging population and infrastructure demands, has become a pivotal market for municipal bond sales. Barclays' exclusion from underwriting public securities significantly blows its public finance department. The repercussions extend beyond a mere disagreement over ESG practices, impacting the bank's access to new business opportunities in the thriving Texas market.<\/p>\n","post_title":"Texas Bars Barclays From Bond Deals Over ESG Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"texas-bars-barclays-from-bond-deals-over-esg-concerns","to_ping":"","pinged":"","post_modified":"2024-01-28 12:14:54","post_modified_gmt":"2024-01-28 01:14:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15138","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14371,"post_author":"1","post_date":"2023-11-19 03:50:56","post_date_gmt":"2023-11-18 16:50:56","post_content":"\n Barclays is exploring a potential acquisition of Tesco's banking operations. Amidst efforts by the British retailer to minimize its financial services, Barclays has emerged as one of the potential parties aiming to acquire a stake in Tesco Bank.<\/p>\n\n\n\n According to a report by Reuters<\/em> quoting sources familiar with the matter, Barclays has put forth a preliminary offer<\/a>, mainly focusing on Tesco Bank's credit card and savings account products.<\/p>\n\n\n\n Barclays' interest in Tesco Bank marks a strategic step to bolster its domestic retail banking arm during a period when the group is aiming to strengthen its share price. This pursuit follows Barclays' recent acquisition of Kensington Mortgages.<\/p>\n\n\n\n See Related:<\/em><\/strong> Central Bank Digital Currencies<\/a><\/p>\n\n\n\n Tesco Bank, established in 1997 as a joint venture between the supermarket giant and Royal Bank of Scotland, witnessed Tesco's banking acquisition gradual increase in control over the years. Despite once considering it a growth area, Tesco has been scaling back its banking services, discontinuing current accounts, and offloading its mortgage portfolio to Lloyds Banking Group.<\/p>\n\n\n\n The proposed deal's valuation for Tesco Bank assets remains undisclosed. However, the company reported \u00a357 million in pre-tax profits in the six months leading up to August 31, 2023, with a book value close to \u00a31.5 billion at the end of the period.<\/p>\n\n\n\n In September, Barclays entered the $1.5 trillion private credit market through a partnership with AGL Credit Management<\/a>, The Distributed<\/em> reported. This collaboration aims to merge Barclays' loan origination capabilities with AGL's expertise in credit investments.<\/p>\n\n\n\n AGL Credit, co-founded by industry veterans Peter Gleysteen and the late Thomas Lee, traditionally focused on bank loans and collateralized loan obligations (CLOs). <\/p>\n","post_title":"Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-eyes-tesco-bank-acquisition-in-push-for-retail-banking-growth","to_ping":"","pinged":"","post_modified":"2023-11-20 16:02:42","post_modified_gmt":"2023-11-20 05:02:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related: <\/em><\/strong>Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth<\/a><\/p>\n\n\n\n The stakes are high for Barclays, given that it is the 11th-largest underwriter of municipal bonds in 2023 and holds the ninth-largest management position in Texas. The fallout from this clash could reshape the landscape of Barclays' municipal bond activities in the state.<\/p>\n\n\n\n While Barclays<\/a> proudly claims membership in the Net-Zero Banking Alliance, dedicated to achieving net-zero greenhouse gas emissions by 2050, this affiliation has not shielded the bank from Texas' stringent scrutiny.<\/p>\n\n\n\n The clash reveals a potential disconnect between the alliance's commitments and the expectations of Texas's authorities, leaving Barclays facing the consequences of its ESG stance.<\/p>\n\n\n\n Texas, with its surging population and infrastructure demands, has become a pivotal market for municipal bond sales. Barclays' exclusion from underwriting public securities significantly blows its public finance department. The repercussions extend beyond a mere disagreement over ESG practices, impacting the bank's access to new business opportunities in the thriving Texas market.<\/p>\n","post_title":"Texas Bars Barclays From Bond Deals Over ESG Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"texas-bars-barclays-from-bond-deals-over-esg-concerns","to_ping":"","pinged":"","post_modified":"2024-01-28 12:14:54","post_modified_gmt":"2024-01-28 01:14:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15138","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14371,"post_author":"1","post_date":"2023-11-19 03:50:56","post_date_gmt":"2023-11-18 16:50:56","post_content":"\n Barclays is exploring a potential acquisition of Tesco's banking operations. Amidst efforts by the British retailer to minimize its financial services, Barclays has emerged as one of the potential parties aiming to acquire a stake in Tesco Bank.<\/p>\n\n\n\n According to a report by Reuters<\/em> quoting sources familiar with the matter, Barclays has put forth a preliminary offer<\/a>, mainly focusing on Tesco Bank's credit card and savings account products.<\/p>\n\n\n\n Barclays' interest in Tesco Bank marks a strategic step to bolster its domestic retail banking arm during a period when the group is aiming to strengthen its share price. This pursuit follows Barclays' recent acquisition of Kensington Mortgages.<\/p>\n\n\n\n See Related:<\/em><\/strong> Central Bank Digital Currencies<\/a><\/p>\n\n\n\n Tesco Bank, established in 1997 as a joint venture between the supermarket giant and Royal Bank of Scotland, witnessed Tesco's banking acquisition gradual increase in control over the years. Despite once considering it a growth area, Tesco has been scaling back its banking services, discontinuing current accounts, and offloading its mortgage portfolio to Lloyds Banking Group.<\/p>\n\n\n\n The proposed deal's valuation for Tesco Bank assets remains undisclosed. However, the company reported \u00a357 million in pre-tax profits in the six months leading up to August 31, 2023, with a book value close to \u00a31.5 billion at the end of the period.<\/p>\n\n\n\n In September, Barclays entered the $1.5 trillion private credit market through a partnership with AGL Credit Management<\/a>, The Distributed<\/em> reported. This collaboration aims to merge Barclays' loan origination capabilities with AGL's expertise in credit investments.<\/p>\n\n\n\n AGL Credit, co-founded by industry veterans Peter Gleysteen and the late Thomas Lee, traditionally focused on bank loans and collateralized loan obligations (CLOs). <\/p>\n","post_title":"Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-eyes-tesco-bank-acquisition-in-push-for-retail-banking-growth","to_ping":"","pinged":"","post_modified":"2023-11-20 16:02:42","post_modified_gmt":"2023-11-20 05:02:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Paxton's probe into Barclays and other banks revolves around allegations of industry boycotts and their impact on fossil fuels. This investigation aligns with a 2021 Texas law targeting banks associated with groups advocating for greenhouse gas emission reduction.<\/p>\n\n\n\n See Related: <\/em><\/strong>Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth<\/a><\/p>\n\n\n\n The stakes are high for Barclays, given that it is the 11th-largest underwriter of municipal bonds in 2023 and holds the ninth-largest management position in Texas. The fallout from this clash could reshape the landscape of Barclays' municipal bond activities in the state.<\/p>\n\n\n\n While Barclays<\/a> proudly claims membership in the Net-Zero Banking Alliance, dedicated to achieving net-zero greenhouse gas emissions by 2050, this affiliation has not shielded the bank from Texas' stringent scrutiny.<\/p>\n\n\n\n The clash reveals a potential disconnect between the alliance's commitments and the expectations of Texas's authorities, leaving Barclays facing the consequences of its ESG stance.<\/p>\n\n\n\n Texas, with its surging population and infrastructure demands, has become a pivotal market for municipal bond sales. Barclays' exclusion from underwriting public securities significantly blows its public finance department. The repercussions extend beyond a mere disagreement over ESG practices, impacting the bank's access to new business opportunities in the thriving Texas market.<\/p>\n","post_title":"Texas Bars Barclays From Bond Deals Over ESG Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"texas-bars-barclays-from-bond-deals-over-esg-concerns","to_ping":"","pinged":"","post_modified":"2024-01-28 12:14:54","post_modified_gmt":"2024-01-28 01:14:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15138","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14371,"post_author":"1","post_date":"2023-11-19 03:50:56","post_date_gmt":"2023-11-18 16:50:56","post_content":"\n Barclays is exploring a potential acquisition of Tesco's banking operations. Amidst efforts by the British retailer to minimize its financial services, Barclays has emerged as one of the potential parties aiming to acquire a stake in Tesco Bank.<\/p>\n\n\n\n According to a report by Reuters<\/em> quoting sources familiar with the matter, Barclays has put forth a preliminary offer<\/a>, mainly focusing on Tesco Bank's credit card and savings account products.<\/p>\n\n\n\n Barclays' interest in Tesco Bank marks a strategic step to bolster its domestic retail banking arm during a period when the group is aiming to strengthen its share price. This pursuit follows Barclays' recent acquisition of Kensington Mortgages.<\/p>\n\n\n\n See Related:<\/em><\/strong> Central Bank Digital Currencies<\/a><\/p>\n\n\n\n Tesco Bank, established in 1997 as a joint venture between the supermarket giant and Royal Bank of Scotland, witnessed Tesco's banking acquisition gradual increase in control over the years. Despite once considering it a growth area, Tesco has been scaling back its banking services, discontinuing current accounts, and offloading its mortgage portfolio to Lloyds Banking Group.<\/p>\n\n\n\n The proposed deal's valuation for Tesco Bank assets remains undisclosed. However, the company reported \u00a357 million in pre-tax profits in the six months leading up to August 31, 2023, with a book value close to \u00a31.5 billion at the end of the period.<\/p>\n\n\n\n In September, Barclays entered the $1.5 trillion private credit market through a partnership with AGL Credit Management<\/a>, The Distributed<\/em> reported. This collaboration aims to merge Barclays' loan origination capabilities with AGL's expertise in credit investments.<\/p>\n\n\n\n AGL Credit, co-founded by industry veterans Peter Gleysteen and the late Thomas Lee, traditionally focused on bank loans and collateralized loan obligations (CLOs). <\/p>\n","post_title":"Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-eyes-tesco-bank-acquisition-in-push-for-retail-banking-growth","to_ping":"","pinged":"","post_modified":"2023-11-20 16:02:42","post_modified_gmt":"2023-11-20 05:02:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
When pressed for details on its ESG stance, the AG's office asserts that Barclays did not respond, acknowledging the potential consequences. This move led Paxton's office to cease approval for any municipal securities underwritten by Barclays in Texas.<\/p>\n\n\n\n Paxton's probe into Barclays and other banks revolves around allegations of industry boycotts and their impact on fossil fuels. This investigation aligns with a 2021 Texas law targeting banks associated with groups advocating for greenhouse gas emission reduction.<\/p>\n\n\n\n See Related: <\/em><\/strong>Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth<\/a><\/p>\n\n\n\n The stakes are high for Barclays, given that it is the 11th-largest underwriter of municipal bonds in 2023 and holds the ninth-largest management position in Texas. The fallout from this clash could reshape the landscape of Barclays' municipal bond activities in the state.<\/p>\n\n\n\n While Barclays<\/a> proudly claims membership in the Net-Zero Banking Alliance, dedicated to achieving net-zero greenhouse gas emissions by 2050, this affiliation has not shielded the bank from Texas' stringent scrutiny.<\/p>\n\n\n\n The clash reveals a potential disconnect between the alliance's commitments and the expectations of Texas's authorities, leaving Barclays facing the consequences of its ESG stance.<\/p>\n\n\n\n Texas, with its surging population and infrastructure demands, has become a pivotal market for municipal bond sales. Barclays' exclusion from underwriting public securities significantly blows its public finance department. The repercussions extend beyond a mere disagreement over ESG practices, impacting the bank's access to new business opportunities in the thriving Texas market.<\/p>\n","post_title":"Texas Bars Barclays From Bond Deals Over ESG Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"texas-bars-barclays-from-bond-deals-over-esg-concerns","to_ping":"","pinged":"","post_modified":"2024-01-28 12:14:54","post_modified_gmt":"2024-01-28 01:14:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15138","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14371,"post_author":"1","post_date":"2023-11-19 03:50:56","post_date_gmt":"2023-11-18 16:50:56","post_content":"\n Barclays is exploring a potential acquisition of Tesco's banking operations. Amidst efforts by the British retailer to minimize its financial services, Barclays has emerged as one of the potential parties aiming to acquire a stake in Tesco Bank.<\/p>\n\n\n\n According to a report by Reuters<\/em> quoting sources familiar with the matter, Barclays has put forth a preliminary offer<\/a>, mainly focusing on Tesco Bank's credit card and savings account products.<\/p>\n\n\n\n Barclays' interest in Tesco Bank marks a strategic step to bolster its domestic retail banking arm during a period when the group is aiming to strengthen its share price. This pursuit follows Barclays' recent acquisition of Kensington Mortgages.<\/p>\n\n\n\n See Related:<\/em><\/strong> Central Bank Digital Currencies<\/a><\/p>\n\n\n\n Tesco Bank, established in 1997 as a joint venture between the supermarket giant and Royal Bank of Scotland, witnessed Tesco's banking acquisition gradual increase in control over the years. Despite once considering it a growth area, Tesco has been scaling back its banking services, discontinuing current accounts, and offloading its mortgage portfolio to Lloyds Banking Group.<\/p>\n\n\n\n The proposed deal's valuation for Tesco Bank assets remains undisclosed. However, the company reported \u00a357 million in pre-tax profits in the six months leading up to August 31, 2023, with a book value close to \u00a31.5 billion at the end of the period.<\/p>\n\n\n\n In September, Barclays entered the $1.5 trillion private credit market through a partnership with AGL Credit Management<\/a>, The Distributed<\/em> reported. This collaboration aims to merge Barclays' loan origination capabilities with AGL's expertise in credit investments.<\/p>\n\n\n\n AGL Credit, co-founded by industry veterans Peter Gleysteen and the late Thomas Lee, traditionally focused on bank loans and collateralized loan obligations (CLOs). <\/p>\n","post_title":"Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-eyes-tesco-bank-acquisition-in-push-for-retail-banking-growth","to_ping":"","pinged":"","post_modified":"2023-11-20 16:02:42","post_modified_gmt":"2023-11-20 05:02:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
According to a report by Bloomberg<\/em>, this clash stems from Texas' scrutiny of banks' ties to the fossil fuel industry, raising questions about environmental, social, and governance (ESG) practices and compliance with state laws. As the Lone Star State emerges as a key player in the municipal bond market, the implications for Barclays<\/a> are significant.<\/p>\n\n\n\n When pressed for details on its ESG stance, the AG's office asserts that Barclays did not respond, acknowledging the potential consequences. This move led Paxton's office to cease approval for any municipal securities underwritten by Barclays in Texas.<\/p>\n\n\n\n Paxton's probe into Barclays and other banks revolves around allegations of industry boycotts and their impact on fossil fuels. This investigation aligns with a 2021 Texas law targeting banks associated with groups advocating for greenhouse gas emission reduction.<\/p>\n\n\n\n See Related: <\/em><\/strong>Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth<\/a><\/p>\n\n\n\n The stakes are high for Barclays, given that it is the 11th-largest underwriter of municipal bonds in 2023 and holds the ninth-largest management position in Texas. The fallout from this clash could reshape the landscape of Barclays' municipal bond activities in the state.<\/p>\n\n\n\n While Barclays<\/a> proudly claims membership in the Net-Zero Banking Alliance, dedicated to achieving net-zero greenhouse gas emissions by 2050, this affiliation has not shielded the bank from Texas' stringent scrutiny.<\/p>\n\n\n\n The clash reveals a potential disconnect between the alliance's commitments and the expectations of Texas's authorities, leaving Barclays facing the consequences of its ESG stance.<\/p>\n\n\n\n Texas, with its surging population and infrastructure demands, has become a pivotal market for municipal bond sales. Barclays' exclusion from underwriting public securities significantly blows its public finance department. The repercussions extend beyond a mere disagreement over ESG practices, impacting the bank's access to new business opportunities in the thriving Texas market.<\/p>\n","post_title":"Texas Bars Barclays From Bond Deals Over ESG Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"texas-bars-barclays-from-bond-deals-over-esg-concerns","to_ping":"","pinged":"","post_modified":"2024-01-28 12:14:54","post_modified_gmt":"2024-01-28 01:14:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15138","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14371,"post_author":"1","post_date":"2023-11-19 03:50:56","post_date_gmt":"2023-11-18 16:50:56","post_content":"\n Barclays is exploring a potential acquisition of Tesco's banking operations. Amidst efforts by the British retailer to minimize its financial services, Barclays has emerged as one of the potential parties aiming to acquire a stake in Tesco Bank.<\/p>\n\n\n\n According to a report by Reuters<\/em> quoting sources familiar with the matter, Barclays has put forth a preliminary offer<\/a>, mainly focusing on Tesco Bank's credit card and savings account products.<\/p>\n\n\n\n Barclays' interest in Tesco Bank marks a strategic step to bolster its domestic retail banking arm during a period when the group is aiming to strengthen its share price. This pursuit follows Barclays' recent acquisition of Kensington Mortgages.<\/p>\n\n\n\n See Related:<\/em><\/strong> Central Bank Digital Currencies<\/a><\/p>\n\n\n\n Tesco Bank, established in 1997 as a joint venture between the supermarket giant and Royal Bank of Scotland, witnessed Tesco's banking acquisition gradual increase in control over the years. Despite once considering it a growth area, Tesco has been scaling back its banking services, discontinuing current accounts, and offloading its mortgage portfolio to Lloyds Banking Group.<\/p>\n\n\n\n The proposed deal's valuation for Tesco Bank assets remains undisclosed. However, the company reported \u00a357 million in pre-tax profits in the six months leading up to August 31, 2023, with a book value close to \u00a31.5 billion at the end of the period.<\/p>\n\n\n\n In September, Barclays entered the $1.5 trillion private credit market through a partnership with AGL Credit Management<\/a>, The Distributed<\/em> reported. This collaboration aims to merge Barclays' loan origination capabilities with AGL's expertise in credit investments.<\/p>\n\n\n\n AGL Credit, co-founded by industry veterans Peter Gleysteen and the late Thomas Lee, traditionally focused on bank loans and collateralized loan obligations (CLOs). <\/p>\n","post_title":"Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-eyes-tesco-bank-acquisition-in-push-for-retail-banking-growth","to_ping":"","pinged":"","post_modified":"2023-11-20 16:02:42","post_modified_gmt":"2023-11-20 05:02:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Texas Attorney General Ken Paxton has blocked Barclays from participating in municipal bond deals. The bank's failure to respond to inquiries about its carbon emission commitments led to this decision.<\/p>\n\n\n\n According to a report by Bloomberg<\/em>, this clash stems from Texas' scrutiny of banks' ties to the fossil fuel industry, raising questions about environmental, social, and governance (ESG) practices and compliance with state laws. As the Lone Star State emerges as a key player in the municipal bond market, the implications for Barclays<\/a> are significant.<\/p>\n\n\n\n When pressed for details on its ESG stance, the AG's office asserts that Barclays did not respond, acknowledging the potential consequences. This move led Paxton's office to cease approval for any municipal securities underwritten by Barclays in Texas.<\/p>\n\n\n\n Paxton's probe into Barclays and other banks revolves around allegations of industry boycotts and their impact on fossil fuels. This investigation aligns with a 2021 Texas law targeting banks associated with groups advocating for greenhouse gas emission reduction.<\/p>\n\n\n\n See Related: <\/em><\/strong>Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth<\/a><\/p>\n\n\n\n The stakes are high for Barclays, given that it is the 11th-largest underwriter of municipal bonds in 2023 and holds the ninth-largest management position in Texas. The fallout from this clash could reshape the landscape of Barclays' municipal bond activities in the state.<\/p>\n\n\n\n While Barclays<\/a> proudly claims membership in the Net-Zero Banking Alliance, dedicated to achieving net-zero greenhouse gas emissions by 2050, this affiliation has not shielded the bank from Texas' stringent scrutiny.<\/p>\n\n\n\n The clash reveals a potential disconnect between the alliance's commitments and the expectations of Texas's authorities, leaving Barclays facing the consequences of its ESG stance.<\/p>\n\n\n\n Texas, with its surging population and infrastructure demands, has become a pivotal market for municipal bond sales. Barclays' exclusion from underwriting public securities significantly blows its public finance department. The repercussions extend beyond a mere disagreement over ESG practices, impacting the bank's access to new business opportunities in the thriving Texas market.<\/p>\n","post_title":"Texas Bars Barclays From Bond Deals Over ESG Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"texas-bars-barclays-from-bond-deals-over-esg-concerns","to_ping":"","pinged":"","post_modified":"2024-01-28 12:14:54","post_modified_gmt":"2024-01-28 01:14:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15138","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14371,"post_author":"1","post_date":"2023-11-19 03:50:56","post_date_gmt":"2023-11-18 16:50:56","post_content":"\n Barclays is exploring a potential acquisition of Tesco's banking operations. Amidst efforts by the British retailer to minimize its financial services, Barclays has emerged as one of the potential parties aiming to acquire a stake in Tesco Bank.<\/p>\n\n\n\n According to a report by Reuters<\/em> quoting sources familiar with the matter, Barclays has put forth a preliminary offer<\/a>, mainly focusing on Tesco Bank's credit card and savings account products.<\/p>\n\n\n\n Barclays' interest in Tesco Bank marks a strategic step to bolster its domestic retail banking arm during a period when the group is aiming to strengthen its share price. This pursuit follows Barclays' recent acquisition of Kensington Mortgages.<\/p>\n\n\n\n See Related:<\/em><\/strong> Central Bank Digital Currencies<\/a><\/p>\n\n\n\n Tesco Bank, established in 1997 as a joint venture between the supermarket giant and Royal Bank of Scotland, witnessed Tesco's banking acquisition gradual increase in control over the years. Despite once considering it a growth area, Tesco has been scaling back its banking services, discontinuing current accounts, and offloading its mortgage portfolio to Lloyds Banking Group.<\/p>\n\n\n\n The proposed deal's valuation for Tesco Bank assets remains undisclosed. However, the company reported \u00a357 million in pre-tax profits in the six months leading up to August 31, 2023, with a book value close to \u00a31.5 billion at the end of the period.<\/p>\n\n\n\n In September, Barclays entered the $1.5 trillion private credit market through a partnership with AGL Credit Management<\/a>, The Distributed<\/em> reported. This collaboration aims to merge Barclays' loan origination capabilities with AGL's expertise in credit investments.<\/p>\n\n\n\n AGL Credit, co-founded by industry veterans Peter Gleysteen and the late Thomas Lee, traditionally focused on bank loans and collateralized loan obligations (CLOs). <\/p>\n","post_title":"Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-eyes-tesco-bank-acquisition-in-push-for-retail-banking-growth","to_ping":"","pinged":"","post_modified":"2023-11-20 16:02:42","post_modified_gmt":"2023-11-20 05:02:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Texas Attorney General Ken Paxton has blocked Barclays from participating in municipal bond deals. The bank's failure to respond to inquiries about its carbon emission commitments led to this decision.<\/p>\n\n\n\n According to a report by Bloomberg<\/em>, this clash stems from Texas' scrutiny of banks' ties to the fossil fuel industry, raising questions about environmental, social, and governance (ESG) practices and compliance with state laws. As the Lone Star State emerges as a key player in the municipal bond market, the implications for Barclays<\/a> are significant.<\/p>\n\n\n\n When pressed for details on its ESG stance, the AG's office asserts that Barclays did not respond, acknowledging the potential consequences. This move led Paxton's office to cease approval for any municipal securities underwritten by Barclays in Texas.<\/p>\n\n\n\n Paxton's probe into Barclays and other banks revolves around allegations of industry boycotts and their impact on fossil fuels. This investigation aligns with a 2021 Texas law targeting banks associated with groups advocating for greenhouse gas emission reduction.<\/p>\n\n\n\n See Related: <\/em><\/strong>Barclays Eyes Tesco Bank Acquisition In Push For Retail Banking Growth<\/a><\/p>\n\n\n\n The stakes are high for Barclays, given that it is the 11th-largest underwriter of municipal bonds in 2023 and holds the ninth-largest management position in Texas. The fallout from this clash could reshape the landscape of Barclays' municipal bond activities in the state.<\/p>\n\n\n\n While Barclays<\/a> proudly claims membership in the Net-Zero Banking Alliance, dedicated to achieving net-zero greenhouse gas emissions by 2050, this affiliation has not shielded the bank from Texas' stringent scrutiny.<\/p>\n\n\n\n The clash reveals a potential disconnect between the alliance's commitments and the expectations of Texas's authorities, leaving Barclays facing the consequences of its ESG stance.<\/p>\n\n\n\n Texas, with its surging population and infrastructure demands, has become a pivotal market for municipal bond sales. Barclays' exclusion from underwriting public securities significantly blows its public finance department. The repercussions extend beyond a mere disagreement over ESG practices, impacting the bank's access to new business opportunities in the thriving Texas market.<\/p>\n","post_title":"Texas Bars Barclays From Bond Deals Over ESG Concerns","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"texas-bars-barclays-from-bond-deals-over-esg-concerns","to_ping":"","pinged":"","post_modified":"2024-01-28 12:14:54","post_modified_gmt":"2024-01-28 01:14:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15138","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14371,"post_author":"1","post_date":"2023-11-19 03:50:56","post_date_gmt":"2023-11-18 16:50:56","post_content":"\n Barclays is exploring a potential acquisition of Tesco's banking operations. Amidst efforts by the British retailer to minimize its financial services, Barclays has emerged as one of the potential parties aiming to acquire a stake in Tesco Bank.<\/p>\n\n\n\n According to a report by Reuters<\/em> quoting sources familiar with the matter, Barclays has put forth a preliminary offer<\/a>, mainly focusing on Tesco Bank's credit card and savings account products.<\/p>\n\n\n\n
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Environmental, Social, And Governance Dispute<\/h2>\n\n\n\n
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Barclays' Expansion Move<\/h2>\n\n\n\n
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Environmental, Social, And Governance Dispute<\/h2>\n\n\n\n
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Barclays' Expansion Move<\/h2>\n\n\n\n
ADVERTISEMENT
Environmental, Social, And Governance Dispute<\/h2>\n\n\n\n
\n
Barclays' Expansion Move<\/h2>\n\n\n\n
ADVERTISEMENT
Environmental, Social, And Governance Dispute<\/h2>\n\n\n\n
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