Company: BCS
Filing Date: 2025-04-30
Form Type: 6-K
Source: 0001654954-25-004815
Chunk: 8

Company: BARCLAYS PLC
Filing Date: 2025-04-30
Form: 6-K
Chunk 8
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m (Q124: £2,277m), RoTE of 14.0% (Q124: 12.3%) and EPS of 13.0p (Q124: 10.3p)

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The Group has a diverse income profile across businesses and geographies including a significant presence in the US. The average GBP/USD exchange rate in Q125 was broadly the same as prior year. The strengthening of the spot GBP/USD exchange rate since December 2024 1 reduced the value of USD denominated assets and liabilities

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Group statutory income increased 11% to £7,709m (Q124: £6,953m), driven by higher structural hedge income, higher income in Global Markets, particularly in FICC, and Tesco Bank

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Group total operating expenses increased to £4,365m (Q124: £4,175m). Group operating costs increased 7% to £4,258m, reflecting Tesco Bank costs, further investment spend and business growth, inflation and the c.£50m expense for the employee share grant announced at FY24 Results, partially offset by c.£150m of cost efficiency savings

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Credit impairment charges increased to £643m (Q124: £513m), primarily driven by a post model adjustment of net £74m for elevated US macroeconomic uncertainty, and stage migration impact for Tesco Bank post day 1 acquisition. Total coverage ratio remains stable at 1.2% (December 2024: 1.2%)

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The effective tax rate (ETR) was 22.8% (Q124: 20.4%). The Q124 ETR was lower as a result of tax benefits in that period

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#### Attributable profit was £1,864m (Q124: £1,550m)
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Total assets increased to £1,593.5bn (December 2024: £1,518.2bn), driven by an increase in trading activity in IB and an increase in the liquidity pool from increased deposits and wholesale funding. This was partially offset by a reduction in derivatives

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TNAV per share increased to 372p (December 2024: 357p) including EPS of 13.0p. An increase in the cash flow hedging reserve was partially offset by a movement in the currency translation reserve

#### Group capital and leverage
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The CET1 ratio increased by c.30bps