PESTEL analysis for Bank Barclays Essay Example | Topics and Well Written Essays - 1000 words

PESTEL analysis for cuss Barclays - Essay ExampleHistory of the Barclays Bank The history of the brim can be tracked guttle to the year 1690 when two persons named John Feame and Thomas Gould commenced trading in Lombard Street of London basically as goldsmith bankers. In the year 1736, James Barclay became a part of the operation and since then the name Barclays has been related with the bank, however, only in the year 1896 the company got its name as Barclays Bank. Barclays spread out its tentacles in line of business by acquiring a number of smaller operations in all these years and expanded its business all over the UK and worldwide (Financial Advice, n.d.). In the year 1925, the international operations of the bank gained quickening after the mergers with Colonial Bank, National Bank of South Africa and Anglo Egyptian Bank. The year 1961 saw the opening of the banks first computer operated branch in London on Drummond Street. In 1966, the UK got its first belief card whic h was launched by the Barclays Bank. The first bank to make use of advertising in the television was in like manner the Barclays in 1972. The bank has also tied up with Post Office Ltd. to spread out its work in personal banking, particularly in the sector of unsecured and secured loans. The Barclays Bank is spread over 50 countries and attends to 27 million customers (The Origin of, 2008). PESTEL Analysis of the Banking Industry Political Analysis Banks in the UK are act to draw on research per graded by Pricewaterhouse Coopers and the study shows that rigid rules in the banking industry will debilitate a sum of ?1tn from the pecuniary system. As a result of which the businesses and the households would be deprived of any form of credit and loans. The regulatory changes that are being made in 2011 would require the banks to keep larger capital of the United States cushions (Treanor, 2010). The Big Four banks in the UK that have resisted radical shake-up calls in their busines s after the contract of the bank reform report are Royal Bank of Scotland, Barclays, Lloyds Banking Group and HSBC. The expected subsidiarisation model states that parcelling of capital has to be made to different country operations and units by the bank. This would eventually pressurise the pass off lenders of the UK for new capital requirements (Reuters, 2011). Economic Analysis Banking sectors are the basic providers of financial services. Therefore, the factors such as tax, ostentation rate and interest rates have strong influence. According to the latest information it has been discovered that the banks in the UK that deals in loan primarily would be discussing about the prospects of expected investments by the tax payers, with the concerned government activity (Economy Watch, 2011). The UK is within the top 30 rich countries with the UKs GDP per capita being $37,400. Out of which the contribution of the financial sector remains to be the highest being 76.2% of GDP (Econom y Watch, 2011). Social Analysis Demographics influence the banking industry to a great extent. The factors that are having a significant impact in relation to banking sector are mortgage, accompaniment standard, total