Barclays PLC

Latest Results (24.03.2025):

Return on Tangible Equity

In the third quarter of 2024, Barclays PLC reported a Group statutory Return on Tangible Equity (RoTE) of 12.3%, an increase from 11.0% in the same quarter of the previous year. This performance supports the company's target of achieving a RoTE greater than 10% in 2024 and aligns with their long-term goal of exceeding 12% by 2026.

Income and Revenue

Barclays PLC's Group income for Q3 2024 was £6.5 billion, marking a 5% increase year-on-year. The Group's Net Interest Income (NII), excluding the Investment Bank and Head Office, was £2.8 billion, with Barclays UK contributing £1.7 billion to this figure. The increase in income was driven by higher structural hedge income, despite challenges such as mortgage margin pressure.

Profit and Expenses

For Q3 2024, Barclays PLC reported a profit before tax of £2.2 billion, up from £1.9 billion in Q3 2023. Total operating expenses remained stable at £4.0 billion, with cost efficiency savings of £0.3 billion offsetting inflationary pressures and supporting investment and business growth.

Credit Impairment and Risk Management

Barclays PLC maintained prudent risk management in Q3 2024, with credit impairment charges totaling £0.4 billion and a loan loss rate (LLR) of 37 basis points. This LLR is below the company's through-the-cycle target range of 50-60 basis points, reflecting effective credit risk management practices.

Capital and Dividends

At the end of Q3 2024, Barclays PLC reported a strong balance sheet with a Common Equity Tier 1 (CET1) ratio of 13.8%, within their target range of 13-14%. The company announced total distributions per share equivalent to approximately 8.0p, including a dividend of 2.9p and a share buyback of £750 million, demonstrating a commitment to returning capital to shareholders.