RSS FeedsTough mortgage market creates vision of opportunity for Barclays
18/04/2008
According to industry analysts UK bank Barclays are looking to seek growth opportunity for their UK mortgage and retail arm despite the current situation of the market. The non aggressive strategy will be on concentrate on its current portfolio and with a view to design it better.
Deanna Oppenheimer spoke to analysts and commented that "Any time you manage your business just to grow market share, it normally gets you into trouble," She further added that the bank would be looking at product design -- including products like "tracker" mortgages, which follow rate moves -- but also at pricing in a constrained market and at a strengthened operational capacity to attract customers.
"We would look at it as an opportunity for profitable growth," she said.
Barclays figures suggest a $150 million profit before tax for its US operations and feel that they are in a sound position to ride the turbulent credit conditions, will early planning of the expected market changes overall impact has been greatly limited.
Other growth areas for commercial and retail development for Barclays that have been reported are within areas such as Pakistan and Russia.