Barclays Q2 Results Climb, On Track With Targets; Plans GBP 1 Bln Buyback

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(RTTNews) - British banking major Barclays Plc (BARC.L, BCS) reported Tuesday higher profit in its second quarter with higher income.

Further, the company announced a further 1 billion pounds share buyback and a half year dividend of 3.0p per share, higher than last year's 2.9 pence. This equates to 1.4 billion pounds of total capital distributions in respect of the first half of 2025, a 21% increase year-on-year.

Looking ahead, C. S. Venkatakrishnan, Group Chief Executive, said the company remains on track to achieve the objectives of three-year plan.

For fiscal 2025, the company projects Group net interest income excluding IB and Head Office of greater than 12.5 billion pounds, of which Barclays UK net interest income of greater than 7.6 billion pounds.

Further, for fiscal 2026, Barclays projects Group total income of around 30 billion pounds.

The company plans to return at least 10 billion pounds of capital to shareholders between 2024 and 2026, through dividends and share buybacks, with a continued preference for buybacks.

In the second quarter, profit before tax climbed 28 percent to 2.48 billion pounds from last year's 1.94 billion pounds. All divisions delivered double-digit RoTE.

Attributable profit grew 34 percent year-over-year to 1.66 billion pounds. Basic earnings per share were 11.7 pence, up from 8.3 pence last year.

Group income was 7.19 billion pounds in the quarter, up 14% from prior year's 6.32 billion pounds. Group net interest income excluding Barclays Investment Bank and Head Office of 3.1 billion pounds, up 12% year-on-year.

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