Barclays reports Q1 EPS 14.1p vs. 13p last year

Q126 Group RoTE of 13.5% with EPS of 14.1p; Announced intention to initiate a share buyback of up to GBP 500M following the completion of the ongoing GBP 1B share buyback announced at FY25 Results; Q126 Group net interest income excluding Barclays (BCS) Investment Bank and Head office of GBP 3.4bn, of which Barclays UK was GBP 2B, on track to meet the 2026 guidance of greater than GBP 13.5B and GBP 8.1-GBP 8.3B respectively; 5% growth in UK lending year-on-year in Q126; Delivered GBP 22B of c.GBP 30B planned UK risk weighted assets growth since 2024, of which GBP 15B was organic growth; Q126 Group cost: income ratio improving to 56% driven by positive operating leverage; Delivered c.GBP 150M of gross cost efficiency savings in Q126; Q126 Group loan loss rate of 74bps included a GBP 0.2B single name impairment charge in the IB which had a c.20bps impact on Group LLR; As a result, Group LLR in FY26 is expected to be around the top of the 50-60bps through the cycle guidance range; Strong balance sheet with CET1 ratio of 14.1%; Taking into account the impact of the GBP 500M share buyback, the CET1 ratio as of 31 March 2026 would be reduced to 13.9%, at the top end of the 13-14% range. C. Venkatakrishnan, Group Chief Executive, commented, “Barclays delivered another solid quarter with a 13.5% RoTE in Q126, and double-digit returns in all our businesses. This was despite a one-off charge and impairments in the quarter. Top line income grew 6% year-on-year, driven by broad based divisional performance including in the Investment Bank, where we generated over GBP 4bn quarterly income for the first time. The cost: income ratio improved to 56% and earnings per share grew by 8% to 14.1p. Our capital position remains robust with a 14.1% common equity tier 1 ratio and we are announcing a GBP 500M buyback today. The breadth and quality of our businesses mean we remain confident in delivering all our financial targets across a range of environments. This includes greater than 12% RoTE in 2026 and greater than 14% RoTE in 2028.”