Company: BCS
Filing Date: 2025-02-13
Form Type: 6-K
Source: 0001654954-25-001446
Chunk: 4

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 6-K
Chunk 4
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.0bn, achieving 2024 targets and on track to deliver 2026 targets

C. S. Venkatakrishnan, Group Chief Executive, commented

"In 2024 we met our financial targets, delivering for our customers and clients, with operational and financial performance improvement driven by disciplined execution of the three-year plan. This delivered a Group RoTE of 10.5% for the year and £3.0bn of capital distributions, including the £1.0bn buyback announced today. Profit before tax increased by 24% to £8.1bn, earnings per share (EPS) increased 8.3p year-on-year to 36.0p, and Tangible net asset value (TNAV) per share increased 26p to 357p. Our Common Equity Tier 1 (CET1) ratio of 13.6% underpins our target to distribute at least £10bn of capital to shareholders by 2026, with a progressive increase in 2025 vs 2024. Our new guidance for 2025, including Group RoTE of c.11%, represents an important next step in the journey towards our 2026 targets, including Group RoTE of greater than 12%. We have also announced a share grant for our colleagues to further align their work with shareholders’ interests and enable them to benefit tangibly from the firm’s progress and success.”**

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FY24 Group statutory RoTE of 10.5% (target of greater than 10%)

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Total capital distributions of £3.0bn announced in relation to 2024, broadly in line with 2023 as guided

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Reflecting a total dividend of 8.4p (£1.2bn) and total share buybacks of £1.8bn for 2024. This includes a 5.5p (c.£0.8bn) 2024 full year dividend, and our intention to initiate a further share buyback of up to £1.0bn

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Group net interest income (NII) excluding Barclays Investment Bank (IB) and Head Office of £11.2bn 1 , of which Barclays UK was £6.5bn 1 , meeting targets of greater than £11.0bn for Group and c.£6.5bn for Barclays UK

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Group cost: income ratio of 62% in FY24 (c.63% FY24 target)

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Delivered