Returns: targeting RoTE of greater than 10% and c.10.5% excluding inorganic activity: The cumulative impact of all inorganic activity on FY24 Group RoTE is currently expected to be broadly neutral, as an estimated net gain upon the completion of the Tesco Bank acquisition in Q424 should broadly offset the losses on disposals from our Italian retail mortgage portfolios as well as from the disposal of the German consumer finance business. Income: targeting Barclays (BCS) Group NII excluding IB and Head Office of greater than GBP 11B, of which Barclays UK NII is now c.GBP 6.5B; Costs: targeting Group cost: income ratio of c.63%, which includes c.GBP 1bn of gross efficiency savings in 2024; Impairment: expect an LLR of 50-60bps through the cycle; Capital: expect to operate within the CET1 ratio target range of 13-14%.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BCS:
- Barclays price target raised to 320 GBp from 280 GBp at Deutsche Bank
- BCS Upcoming Earnings Report: What to Expect?
- Barclays price target lowered to 330 GBp from 341 GBp at Jefferies
- What Wall Street is saying about big banks ahead of earnings
- General Motors and Barclays sign long-term credit card partnership agreement