Barclays posts jump in Q4 profit, announces £1bn buyback
By Alexander Bueso
Date: Thursday 13 Feb 2025
(Sharecast News) - Barclays saw profit before tax jump over the last three months of 2024 to reach £1.7bn, versus £0.1bn one year before.
That came on the back of a 24% year-on-year surge in group income to £7.0bn.
Net interest income for the quarter printed at £3.5bn (consensus: £3.29bn), while the profitability of its investment bank hit £2.61bn (consensus: £2.47bn).
Total operating expenses meanwhile fell by 7% to £4.6bn.
For 2025, the lender said that it was targeting a return on tangible equity of approximately 11%, group net interest income of around £12.2bn and a cost-to-income ratio of roughly 61%.
Its target for 2026 RoTE was pegged at over 12%.
An additional share buyback programme of £1bn was announced.
As of 0813 BST shares of Barclays were down by 4.71% at 293.25p, having hit their best level since 2010 the day before.
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