- Barclayspress release ( NYSE: BCS ): Q4 GAAP EPS of 6.50p.
- Total income of £5.8B (+12.4% Y/Y).
- The reported CET1 ratio decreased by1 c.20bps to 13.9% (December 2021: 15.1%) as RWAs increased by £22.4B to £336.5B and CET1 capital decreased by £0.4B to £46.9B.
- Outlook: Returns: targeting RoTE of greater than 10% in 2023.
- 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 net interest margin 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%.
- Impairment: expect an LLR of 50-60bps in 2023, based on the current macroeconomic outlook.
- Capital: expect to operate within the CET1 ratio target range of 13-14%.
- Capital returns: capital distribution policy incorporates a progressive ordinary dividend, supplemented with buybacks as appropriate.
For further details see:
Barclays GAAP EPS of 6.50p, total income of £5.8B; initiates FY23 guidance