LONDON, March 30, 2026, 14:14 BST
Barclays PLC disclosed Monday it repurchased 21.3 million shares during the last week and plans to cancel them, pushing forward with a £1 billion buyback just ahead of the UK financial watchdog’s announcement on the final motor finance compensation scheme, which is expected after the market shuts. 1
Timing is crucial here, since capital returns are at the core of Barclays’ three-year plan. Back in February, the bank announced a commitment to hand over more than £15 billion to shareholders from 2026 to 2028. That promise, though, now runs up against an unsettled compensation bill tied to UK lenders and motor finance commissions. 2
The Financial Conduct Authority on Monday said it’s working with the Solicitors Regulation Authority, the Information Commissioner’s Office, and the Advertising Standards Authority in a joint taskforce targeting questionable conduct by claims handlers before the rollout of the redress plan. Alison Walters, the FCA’s director of consumer finance, stressed the process comes at no cost to consumers, saying “people don’t need to use a CMC or law firm”—with the regulator cautioning that claims management companies can take up to 30% of a payout in fees. 3
Barclays disclosed in Monday’s filing that it snapped up 21,292,501 ordinary shares from March 23 to March 27, paying a volume-weighted average price between 378.8967 pence and 394.8961 pence. Once those shares are cancelled, the outstanding share capital will be trimmed to 13,736,819,413. The ongoing buyback has now seen the bank purchase a total of 105,497,346 shares at an average price of 424.2590 pence each. 1
Barclays hit every target it set for 2025, CEO C.S. Venkatakrishnan told investors at the full-year update. Return on tangible equity landed at 11.3%, while the CET1 ratio—Barclays’ key capital safeguard—stood at 14.3%. The bank said its planned £1 billion buyback would trim CET1 down to 14.0%, still right at the upper boundary of its stated goal. 4
Barclays isn’t the only big player using buybacks right now. NatWest disclosed last week it repurchased 3.33 million shares between March 23 and March 27. Lloyds Banking Group, for its part, picked up 22 million shares for cancellation on March 24. Both moves are part of ongoing buyback programs. 5
There’s a risk here: capital returns may end up clashing with conduct costs. Last week, Reuters reported that Barclays—alongside Lloyds, Santander, and Close Brothers—has been swept into the FCA’s proposed overhaul of motor finance commissions, a package initially floated at about £11 billion for the sector. Companies warn that unless the FCA changes its approach, legal challenges could still be on the table. 6
It’s not just company-specific trouble — the broader picture has darkened. Sterling dropped to its weakest level against the euro in over three weeks on Monday, as investors fretted about the economic repercussions of the Iran war. Last week, Finance Minister Rachel Reeves sat down with top banking names, Barclays among them, to assess how pricier energy is squeezing both households and small businesses. 7
London trading was still underway at 14:14 BST, with the stock exchange open as usual. The FCA plans to deliver its motor finance update after markets shut, so Barclays holders are left juggling a predictable buyback pace for now, but will have to wait for clarity on what comes next for payouts. 8
