Barclays reports Q3 EPS 10.7p vs. 8.3p last year

Group statutory RoTE was 12.3% with profit before tax of GBP 2.2B; Group income of GBP 6.5B was up 5% year-on-year, with Group NII excluding IB and Head Office of GBP 2.8bn, of which Barclays (BCS) UK NII was GBP 1.7B; Strong balance sheet with CET1 ratio of 13.8%, within the target range of 13-14%. C. S. Venkatakrishnan, Group Chief Executive, commented, “We continue to be focused on disciplined execution of our three year plan and are encouraged with progress to date. Whilst there is more work to do, the Group is on track to achieve its target of greater than 12% RoTE in 2026. In Q324 Barclays delivered a RoTE of 12.3%, supporting our target of greater than 10% in 2024. Tangible net asset value per share increased to 351p, up 11p versus prior quarter and up 35p year-on-year. The acquisition of Tesco Bank, to complete on 1 November 2024, forms part of our commitment to invest in the UK. We continue to exercise cost discipline and remain well capitalised with a Common Equity Tier 1 ratio at the end of the quarter of 13.8%.”