Barclays is a diversified bank, with revenues mainly from the UK and Americas. The bank’s main divisions are Global Retail Banking, Barclays Capital and Absa. To reduce dependence on IB, Barclays aims to increase the contribution of earnings from other businesses. Initiatives taken include acquiring a credit card business, setting up a life insurance joint venture. The sale of Barclays Global Investors asset management business lifted capital ratios, high sovereign exposure to PIIGS is also a risk to capital position. Barclays result is largely affected by the level of activity in the financial markets.