Quarterly ResultApr 28, 2026, 07:02 AM
BCS Q126 RoTE 13.5%, EPS 14.1p; Announces £500m Buyback
AI Summary
Barclays PLC reported a solid Q1 2026 with a Return on Tangible Equity (RoTE) of 13.5% and an 8% increase in EPS to 14.1p, alongside a 6% rise in total income to £8.2bn. The company announced a new £500m share buyback and reiterated its 2026 and 2028 financial targets, despite a £0.2bn single name impairment charge in the Investment Bank and a £105m increase in provision for the UK motor finance redress scheme. The CET1 ratio remained robust at 14.1%, reducing to 13.9% after the announced buyback. Additionally, Barclays exited its American Airlines credit card partnership and expects to complete the acquisition of Best Egg, Inc. in Q226.
Key Highlights
- BCS Q126 RoTE 13.5% (Q125: 14.0%); EPS 14.1p (+8% YoY)
- Announced new £500m share buyback, following completion of £1bn buyback
- Group total income increased 6% YoY to £8.2bn
- Profit before tax increased 3% YoY to £2.8bn
- CET1 ratio of 14.1% (Dec 2025: 14.3%), at top end of 13-14% target range after buyback
- Credit impairment charges increased to £0.8bn, including £0.2bn single name charge in IB
- Increased provision for UK FCA motor finance redress scheme by £105m to £430m
- Exited American Airlines co-branded credit card partnership, releasing c.$5bn RWAs and c.$300m gain on sale
- Expect to complete Best Egg acquisition for $800m, generating c.$500m goodwill and intangibles