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Barclays says no need to issue equity to plug capital
June 20, 2013 / 6:43 AM / 4 years ago

Barclays says no need to issue equity to plug capital

LONDON (Reuters) - Barclays said it can fill a 3 billion pound ($4.7 billion) capital shortfall identified by Britain’s financial regulator from earnings and other restructuring measures and does not plan to issue equity.

A woman walks past a Barclays Bank in Leicester, central England April 24, 2013. REUTERS/Darren Staples

Britain’s Prudential Regulation Authority said Barclays needs to find 3 billion pounds under a capital exercise based on end-2012 data, out of a 27.1 billion shortfall for Britain’s top banks.

Barclays said it is confident it will exceed the PRA’s capital target by the end of 2013 through its capital generative businesses and more disposals of legacy assets, which it said had accelerated this year. “As agreed with the PRA, this requirement is expected to be met without recourse to equity capital issuance,” it said.

Reporting by Steve Slater; Editing by Matthew Scuffham

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