Barclays 2024 Outlook: Targets Barclays Group NII Excluding Barclays Investment Bank And Head Office Of £10.7B, Expects RoTE Of Greater Than 10% In 2024 And 10.5% Excluding Inorganic Activity
Portfolio Pulse from Benzinga Newsdesk
Barclays has outlined its financial targets for 2024 and beyond, aiming for a RoTE of over 10% in 2024 and around 10.5% excluding inorganic activities. The bank plans to return at least £10bn to shareholders through dividends and buybacks from 2024 to 2026, maintaining stable dividends while increasing buybacks. It targets a Barclays Group NII of approximately £10.7bn, excluding its Investment Bank and Head Office, with a Group total income of around £30bn by 2026. Barclays aims for a cost:income ratio of about 63% in 2024, reducing to the high 50s by 2026, and expects to operate within a CET1 ratio of 13-14%. The bank also anticipates regulatory changes to impact RWAs at the lower end of a 5-10% range.
February 20, 2024 | 7:58 am
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Barclays aims for a RoTE of over 10% in 2024, plans to return at least £10bn to shareholders through dividends and buybacks from 2024 to 2026, and targets a Group NII of £10.7bn excluding its Investment Bank. It also aims for a cost:income ratio of about 63% in 2024, reducing to the high 50s by 2026, while maintaining a CET1 ratio of 13-14%.
Barclays' ambitious financial targets and plans to return significant capital to shareholders through dividends and buybacks are likely to be viewed positively by investors, potentially leading to a short-term positive impact on its stock price. The focus on cost efficiency and maintaining a stable CET1 ratio further supports the bank's financial health and operational efficiency, reinforcing the positive outlook.
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