Year in review 2008
Year in Review
Our 2008 timeline represents a year of exceptional change and challenges for the financial services sector around the world, and features events from across the Barclays Group.
Trust and confidence in the banking industry fell sharply during the year. Share prices fell dramatically, established banks were forced into the hands of rivals and some were nationalised. Barclays was not immune to the extraordinarily challenging economic conditions brought about by the credit crunch.
We raised capital to meet the new regulatory requirements introduced across the industry. The need to do this quickly and with certainty caused us to raise capital in a way that was not fully pre-emptive. Although we judged at the time that the external environment necessitated this course of action, and continue to believe with the benefit of hindsight that this was the right judgement, we recognise that in choosing this course, we upset many shareholders and we deeply regret that fact.
