Barclays PLC (NYSE:BCS) shares are surging premarket Tuesday after it reported fourth-quarter FY23 results.
Total income fell 3% Y/Y to £5.6 billion in the quarter. The company reported an attributable loss of £0.1 billion (vs profit of £1.0 billion).
The company witnessed a decline in Barclays UK income (-9% Y/Y), with net interest income (NII) broadly flat and net fees, commissions, and other income down 41% due to one-off items and the transfer of Wealth Management & Investments (WM&I) to CC&P during the second-quarter FY23.
Meanwhile, Barclays International declined 3% Y/Y in the fourth quarter.
Operating expenses were £4.92 billion versus £4.00 billion a year ago. Credit impairment charges stood at £0.6 billion. CET1 ...