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Large banks have gone through another setback recently. Barclays endured a 25% fall in its first quarter

due to corporate restructure plans. On the other hand shares for the organization rose in the beginning

of the trading statement, which kicks off the reporting time zone for the UK banking sector.

Top dog at Barclays, Antony Jenkins, is terminating thousands of jobs, in order to avoid taking one step

forward, then five steps backwards, also to avoid a similar situation as the Libor rate rigging scandal, and

the predicted payment protection insurance (PPI) miss-selling. Will it ever end?

The Strategic mishap on the other hand did lead Barclays with more profit due to the strengthening

global equity markets. Probably resulting in the advice given by city bank, believing that this was a good

time to invest into Barclays. But would you? Potential of another massive loss always seems likely in

current climate, and there will always be hidden agendas.

Consumers are still against the high street banks, 60% of customers not trusting the high street banks to

look after their money, while 49% of these individuals think they are dishonest and a more condensed

45% of these individuals believe they are incompetent. 1% of these respondents think that senior

executives of the big banks, people like Antony Jenkins, are on the mend, and improved since the

financial crisis began.

Previous chief executives and chairman at Barclays have been put under large amounts of scrutiny.

For example the announcement that Marcus Agius stepped down as Chairman of Barclays following

revelations about Barclay’s role in manipulating interest rates.

An issue such as this has created fear between consumers and the large banks. Resulting in the creation

of, “moving your money organizations”, which has struck the states by storm, resulting n 10million

users moving all their finances to more independent, SME organizations. Who are not as tunnel minded

as large high street bankers due to the variety of investments they choose, less political ties, less

overheads, therefore likely to have more dividend payments.

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