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City of London

Barclays Could Start Delayed £1 Billion Buyback From End of May

  • Buyback to start shortly after paperwork is amended, bank says
  • Bank delayed plan after accidentally overselling securities
U.K. High Street Banks Ahead of Earnings
Photographer: Chris Ratcliffe/Bloomberg

Barclays Plc expects to start its promised billion-pound ($1.2 billion) share buyback from the end of May, once it files the correct paperwork on security sales that led to a 450 million-pound loss.

The bank said it will lodge its amended forms with the US Securities and Exchange Commission by the end of this month, following weeks of discussions with the regulator. It expects to start buying back shares “shortly thereafter,” it said in a statement on Monday.