Bank must raise cash to catch peers

Barclays Plc, the UK's third-biggest bank, may need to raise as much as 7.5 billion pounds ($13.3 billion) to bring its capital ratio in line with investment banking peers, Royal Bank of Scotland Group Plc said.

While the London-based bank's so-called tangible common equity is in line with UK banks it's low compared with rival securities firms, the analysts led by Ian Smillie wrote in a research note to clients yesterday.

"A deeply ingrained performance-led culture facilitated the generation of 8.3 billion pounds of economic profit over the last four years," Smillie said.