About this content About William Farrington William kickstarted his career as a researcher and reporter for a global legal publication, covering everything from public law to M&A. Before moving to Proactive Investors, he worked as a reporter for a major fintech company with a focus on cryptocurrency and blockchain technology. Harking from Queensland, Australia, William obtained first-class honours in journalism and media from Birkbeck University before going on to complete an MA in creative and critical ...

stockcam About a year ago, in May 2023, I argued that Barclays (NYSE:BCS) (OTCPK:BCLYF) stock is deeply undervalued, and I projected a "triple-digit upside opportunity". Since the argument was made, Barclays has returned about 43% total equity return to investors, including dividend and buybacks, and today I am confident to reiterate my "Buy" thesis. Pointing to Barclay's recently announced Q1 results, I highlight that the Bank reported £6.95 billion of revenues and £2.3 billion of pre-tax profits, both ...

Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. However, when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, ...

HSBC Holdings (HSBC) reported a first-quarter 2024 pre-tax profit of $12.7 billion, down 1.8% from the prior-year quarter. The reported quarter included a $4.8-billion gain following the completion of the disposal of the banking business in Canada, partly offset by a $1.1-billion impairment following the classification of its business in Argentina as held for sale.Results reflected higher expenses, and an increase in expected credit losses and other credit impairment charges (ECL). However, a rise in revenu ...

Goldman Sachs is reportedly closer to exiting its General Motors credit card business.The banking giant is in discussions with Barclays to transfer the issuance of the cards, the latest in its long-term project to move away from consumer lending, the Wall Street Journal (WSJ) reported Tuesday (April 30).Barclays is the top contender to take over the GM cards, which have around $2 billion in outstanding balances, and could reach a deal by this summer, the report said, citing sources familiar with the matter. ...

The former CEO of Barclays is now chairing TikTok challenger Triller.As the Financial Times (FT) reported Saturday (April 27), Bob Diamond has been chairing Triller owner AGBA since September and will serve in that capacity at the video-and-music-focused social media startup as well. According to the report, Triller claims to be worth more than $3 billion, though it has just $36 million in revenue and $1 million in cash on hand last year.AGBA, a financial services company, announced it was merging with Tril ...

Barclays (BCS) reported first-quarter 2024 net income attributable to ordinary equity holders of £1.55 billion ($1.97 billion), down 13% year over year.The company recorded lower revenues in the quarter, which was a negative. However, a decline in operating expenses, along with lower credit impairment charges, aided the results to some extent.Revenues & Expenses DeclineTotal income was £6.95 billion ($8.81 billion), down 4% year over year.Operating expenses (excluding litigation and conduct costs, and charg ...

Financial Performance - In Q1 2024, Barclays reported a return on equity (RoE) of 10.6% and a return on tangible equity (RoTE) of 12.3%[15]. - Group income for Q1 2024 was £7.0 billion, a decrease of 4% year-on-year, with net interest income (NII) of £3.1 billion[19]. - Barclays reported a profit before tax of £2,277 million for Q1 2024, down 12% from £2,598 million in Q1 2023, with an attributable profit of £1,550 million[27][33]. - Profit before tax decreased 6% to £705m, with a return on equity (RoE) of 13.4% compared to 14.8% in Q1 2023[43]. - Barclays Group's profit after tax for Q124 was £1,812 million, a substantial increase from £133 million in Q423, reflecting a year-over-year growth of 1,263%[62]. - Attributable profit for Q1 2024 was £1,550 million, a decrease of 13% compared to £1,783 million in Q1 2023[138]. - The Investment Bank segment generated an attributable profit of £899 million in Q1 2024, a significant decrease from £1,048 million in Q1 2023[143]. Cost Management - The cost-to-income ratio was 60%, with a target of approximately 63% for 2024 remaining unchanged[19]. - Barclays delivered £0.2 billion of the £1 billion gross cost efficiency savings target for 2024[19]. - Total operating expenses were £4,175 million for Q1 2024, slightly higher than £4,110 million in Q1 2023[147]. - Total operating expenses decreased 3% to £1,063m, driven by efficiency savings and the transfer of WM&I to PBWM[43]. - The cost-to-income ratio improved to 60% in Q124 from 88% in Q423, indicating better operational efficiency[62]. Capital and Liquidity - The Common Equity Tier 1 (CET1) ratio stood at 13.5%, within the target range of 13-14%[19]. - The CET1 ratio decreased to 13.5% as risk-weighted assets (RWAs) increased by £6.9 billion to £349.6 billion[33]. - The liquidity pool increased to £323.5 billion, driven by a strong deposit growth in the International Corporate Bank[33]. - Barclays plans to return at least £10 billion of capital to shareholders between 2024 and 2026, with a preference for share buybacks[24]. - The Group's CET1 capital decreased by £0.2 billion to £47.1 billion as of March 31, 2024, from £47.3 billion in December 2023, primarily due to £1.6 billion in distributions[121]. - The total regulatory capital ratio as of March 31, 2024, was 19.6%, down from 20.1% in December 2023[119]. Asset Quality and Impairments - Credit impairment charges were £0.5 billion, with a loan loss rate (LLR) of 51 basis points[19]. - Credit impairment charges for Barclays UK totaled £58 million in Q124, compared to £37 million in Q423[68]. - The annualised loan loss rate was 51 basis points after applying a total impairment charge of £513 million[87]. - The coverage ratio for Stage 3 loans was 36.7% as of March 31, 2024[85]. - The total impairment allowance stood at £5.721 billion, with retail credit cards accounting for £3.486 billion and corporate loans at £1.299 billion[98]. Business Segments Performance - Barclays UK income decreased by 7%, while Private Bank and Wealth Management (PBWM) income increased by 20%[19]. - Barclays Investment Bank reported a profit before tax of £1,339 million for Q1 2024, a decrease of 12% compared to £1,513 million in Q1 2023[55]. - Total income for Barclays Investment Bank decreased by 7% to £3,328 million, with Global Markets income down 8% to £2,287 million, while Equities income increased by 25% to £883 million[55]. - Barclays US Consumer Bank achieved a profit before tax of £59 million, down 24% from £78 million in Q1 2023, with total income increasing by 4% to £859 million[59]. - Barclays Private Bank and Wealth Management reported a 20% increase in total income to £312 million, with net fee income rising 76% to £137 million[48]. Market and Economic Outlook - In the Baseline scenario, UK GDP growth is projected at 1.0% for 2024, with unemployment expected to rise to 4.6%[100][105]. - Under the Downside 2 scenario, UK GDP is forecasted to decline by 0.9% in 2024, with unemployment potentially reaching 4.7%[101][105]. - The UK bank rate is expected to remain at 4.9% in 2024 under the Baseline scenario, while it could rise to 6.8% in the Downside 2 scenario[105]. - US unemployment is projected to rise to 4.2% by Q3 2024, with a federal funds rate of 5.0% in 2024[100][105]. Regulatory Requirements - The Group's overall capital requirement for CET1 remained at 12.0%, which includes a 4.5% Pillar 1 minimum and a 2.5% Capital Conservation Buffer[111]. - The MREL requirement, excluding the PRA buffer, was to hold £105.2 billion of own funds and eligible liabilities, equating to 30.1% of RWAs[119]. - The Pillar 2A requirement is set at 4.6%, with at least 56.25% needing to be met with CET1 capital[113]. - The Capital Conservation Buffer (CCB) requires an additional 2.5% of Common Equity Tier 1 capital above the 4.5% minimum requirement[189].

Barclays PLC (NYSE:BCS) Q1 2024 Earnings Conference Call April 25, 2024 4:30 AM ET Company Participants C.S. Venkatakrishnan - Group Chief Executive Anna Cross - Group Finance Director Conference Call Participants Joseph Dickerson - Jefferies Benjamin Toms - RBC Alvaro Serrano - Morgan Stanley Rohith Chandra-Rajan - Bank of America Guy Stebbings - BNP Paribas Christopher Cant - Autonomous Research Robin Down - HSBC Jonathan Pierce - Numis Corp. Operator Welcome to Barclays Q1 2024 Results Analyst and Invest ...

LONDON — Barclays on Thursday reported first-quarter net income attributable to shareholders of £1.55 billion ($1.93 billion), beating expectations and returning the British lender to profit amid a major strategic overhaul.Analysts polled by Reuters had expected net profit attributable to shareholders of £1.29 billion for the quarter, according to LSEG data.Net income for the first quarter 2023 was $1.78 billion.Barclays reported a net loss of £111 million in the fourth quarter of 2023 due to an operational ...