Barclays operating jaws key to profitability

BARCLAYS IS THE UK bank most exposed to changes in regulation which would split its high street operation from riskier investment banking activities. As a result its share price has suffered from the looming prospect of a tighter operating regime. However releasing first half results, the EPL and ATP sponsor has focused investors attention on so-called “positive operating jaws” in its retail operation. This questionable piece of banking jargon refers to the difference between operating profits and costs although it is probably fair to say that its retail customers probably feel less positive about being caught in its tightening grip than the Barclays board.