Barclays Q1 pre-tax profit fell 12% year-on-year and plans to return at least 10 billion pounds to shareholders in the next three years

Gelonghui, April 25 | Barclays announced its first quarter results for 2024. Total revenue was 6.953 billion pounds, down 4% year-on-year, slightly higher than market expectations of 6.89 billion pounds; pre-tax profit was 2.277 billion pounds, down 12% year-on-year. %, market expectations were 2.195 billion pounds.

Special Topic: Focus on U.S. Stocks’ 2024 First Quarter Earnings Report, April 25 | Barclays announced its first quarter 2024 results, with total revenue of 6.953 billion pounds, a year-on-year decrease of 4%, slightly higher than market expectations of 6.89 billion pounds; Pre-tax profit was 2.277 billion pounds, down 12% year-on-year, and market expectations were 2.195 billion pounds.

During the period, net interest income was 1.549 billion pounds, a year-on-year decrease of 4%, and the net interest margin was 3.09%, compared with 3.18% in the same period last year.

Return on average distributed tangible equity was 18.5%, compared with 20% in the same period last year.

As of the end of the quarter, the common equity tier 1 capital (CET1) ratio reached 13.5%, compared with 13.8% at the end of 2023.

In terms of guidance, looking forward to 2024, Barclays targets a return on tangible net assets of more than 10%. Barclays Group net interest income (excluding IB and headquarters) will reach 10.7 billion pounds, of which Barclays UK net interest income will reach 6.1 billion pounds, and ordinary Equity Tier 1 capital ratio is between 13-14%.

Looking forward to 2026, Barclays targets a return on tangible net assets of more than 12%, and the group\’s total revenue exceeds 30 billion pounds. It plans to return at least 10 billion pounds to shareholders through dividends and repurchases from 2024 to 2026.

Like (0)
Previous April 25, 2024 5:08 pm
Next April 25, 2024 5:09 pm

Related posts

  • MF share in NSE cos hits fresh high in Q4

    The share of domestic mutual funds (MFs) in companies listed on NSE rose to a fresh all-time high of 8.92 per cent for the quarter ended March, powered by net inflows of ₹81,539 crore during the quarter.

    stock options May 7, 2024
  • The three major U.S. stock indexes collectively closed lower, with the Dow falling more than 1%

    U.S. stock market: The three major U.S. stock indexes collectively fell. The Dow fell more than 1%, and the Nasdaq and S&P fell nearly 1%. As of the close, the Dow Jones Industrial Average fell 422.16 points from the previous trading day, closing at 38461.51 points, a decrease of 1.09 %; the Nasdaq Composite Index fell 136.28 points to close at 16170.36 points, a decrease of 0.84%. ; The S&P 500 stock index fell 49.27 points to close at 5160.64 points, a decrease of 0.95%. In terms of data, the U.S. announced before the market opened that the CPI in March increased by 3.5% year-on-year, which was higher than market expectations of 3.4% and the highest level since September 2023. Most large technology stocks fell, with Tesla falling more than 2%, Apple falling more than 1%, and Google and Microsoft following suit; Meta, Amazon, and Netflix rose slightly. The chip and semiconductor sectors were among the top decliners, with GF and NXP Semiconductors falling by more than 4%, Intel, Qualcomm, Texas Instruments, and AMD falling by more than 2%; NVIDIA…

    stock options April 15, 2024
  • Musk’s xAI completed US$6 billion in Series B financing, with a pre-money valuation of US$18 billion

    Musk’s artificial intelligence startup xAI announced on Monday the completion of a $6 billion Series B financing. Major investors include Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding.

    stock options May 27, 2024
  • Tech Query: What is the outlook for Wipro, Karnataka Bank and L&T Finance?

    I have shares of Wipro at an average price of ₹404. What is the outlook? I am holding this stock for the last four years. Can I exit the stock at the current level?

    stock options May 19, 2024
  • Yongan Futures (600927.SH): Net profit in 2023 is 729 million yuan, a year-on-year increase of 8.34%

    Gelonghui April 25丨Yongan Futures (600927.SH) released its 2023 annual report. During the reporting period, it achieved operating income of 23.823 billion yuan, a year-on-year decrease of 31.50%. The net profit attributable to shareholders of listed companies was 729 million yuan, a year-on-year increase of 8.34%. The net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 712 million yuan, a year-on-year increase of 5.87%. It is planned to distribute a cash dividend of 0.81 yuan (tax included) to all shareholders for every 10 shares.

    stock options April 25, 2024
  • Lei Jun visits Xiaopeng flying car, low-altitude economy once again attracts attention

    Sina Technology News On the afternoon of April 25, at the 2024 Beijing Auto Show, Lei Jun, founder of Xiaomi Group, went to visit Xpeng Huitian’s integrated land and air flying car, and exchanged questions about flying cars with He Xiaopeng, founder of Xpeng Motors. The audience continued Onlookers once again aroused people\’s close attention to the low-altitude economy. As urban traffic pressure continues to increase, low-altitude economy is regarded as one of the potential solutions for future urban traffic. Data shows that 63.1% of Chinese consumers expect flying cars to solve traffic congestion problems. With the comprehensive development and industrial advantages of China\’s new energy vehicle industry chain, my country has industry competitive advantages and industrial scale effects in many fields such as batteries, motors, and smart cockpits. Because of this, the field of new energy vehicles, with batteries, motors, and electronic controls as the three major components, has a certain overlap with flying cars. As an important carrier of the low-altitude economy, many companies in the transportation field, especially new energy car companies, have turned their attention to…

    stock options April 25, 2024