Barclays Plc Is Evaluating Actions To Reduce Structural Costs, Which May Result In Material Additional Charges In Q423
Portfolio Pulse from Benzinga Newsdesk
Barclays Plc is planning to reduce structural costs, which may lead to additional charges in Q4 2023. The bank is targeting a cost: income ratio in the low 60s in 2023, with a medium-term target of below 60%. It also aims for a RoTE of over 10% in 2023, excluding structural costs. Barclays UK's Net Interest Margin is expected to be between 3.05% - 3.10% in 2023. The bank plans to continue operating within the CET1 ratio target range of 13-14% and its capital distribution policy includes a progressive ordinary dividend and share buybacks as appropriate.
October 24, 2023 | 8:13 am
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Barclays Plc's plans to reduce structural costs may lead to additional charges in Q4 2023. This could impact the bank's earnings and equity actions. The bank's targets for 2023, including a cost: income ratio in the low 60s and a RoTE of over 10%, could also affect its credit.
Barclays Plc's plans to reduce structural costs could lead to additional charges, which could impact the bank's earnings. The bank's targets for 2023, including a cost: income ratio in the low 60s and a RoTE of over 10%, could affect its credit. However, the bank's capital distribution policy, which includes a progressive ordinary dividend and share buybacks, could have a positive impact on its equity actions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100