Barclays reports Q4 EPS 6.7p vs (0.7)p last year

Goup statutory RoTE was 7.5% with profit before tax of GBP 1.7bn, reflecting seasonal performance, including the impact of the UK bank levy. Group income of GBP 7.0bn was up 24% year-on-year, and 14% year-on-year excluding the GBP 0.6bn impact of inorganic activity. C. S. Venkatakrishnan, Group Chief Executive, commented: “In 2024 we met our financial targets, delivering for our customers and clients, with operational and financial performance improvement driven by disciplined execution of the three-year plan. This delivered a Group RoTE of 10.5% for the year and GBP 3.0bn of capital distributions, including the GBP 1.0bn buyback announced today. Profit before tax increased by 24% to GBP 8.1bn, earnings per share (EPS) increased 8.3p year-on-year to 36.0p, and Tangible net asset value (TNAV) per share increased 26p to 357p. Our Common Equity Tier 1 (CET1) ratio of 13.6% underpins our target to distribute at least GBP 10bn of capital to shareholders by 2026, with a progressive increase in 2025 vs 2024. Our new guidance for 2025, including Group RoTE of c.11%, represents an important next step in the journey towards our 2026 targets, including Group RoTE of greater than 12%. We have also announced a share grant for our colleagues to further align their work with shareholders’ interests and enable them to benefit tangibly from the firm’s progress and success.”