2023-04-27 03:07:19 ET
- Barclays press release ( NYSE: BCS ): Q1 GAAP EPS of 11.30p.
- Total income of £7.24B (+11.4% Y/Y).
- Group attributable profit was £1.8B and RoTE was 15.0%, with all operating divisions delivering double-digit returns.
- Common Equity Tier 1 (CET1) ratio of 13.6% (December 2022: 13.9%).
- Tangible net asset value per share of 301p, increased 6p since December 2022.
- Liquidity coverage ratio of 163% (December 2022: 165%).
- Group Targets and Outlook : Returns: targeting RoTE of greater than 10% in 2023, consistent with our medium-term target.
- Income: diversified income streams continue to position the Group well for the current economic and market environment including higher interest rates.
- In 2023, Barclays UK NIM is expected to be greater than 3.20%.
- Costs: targeting a cost: income ratio percentage in the low 60s in 2023, investing for growth whilst progressing towards the Group’s medium-term target of below 60%.
- Capital: expect to operate within the CET1 ratio medium-term target range of 13-14%.
- Capital returns: capital distribution policy incorporates a progressive ordinary dividend, supplemented with share buybacks as appropriate.
For further details see:
Barclays GAAP EPS of $11.30, total income of £7.24B; reaffirms FY23 outlook