Barclays Updates 2024 Outlook: Targets Barclays Group NII Excluding Barclays Investment Bank And Head Office Of £11.0bn (prior £10.7B), Expects RoTE Of Greater Than 10% In 2024 And 10.5% Excluding Inorganic Activity
Portfolio Pulse from Benzinga Newsdesk
Barclays has updated its 2024 financial outlook, targeting a return on tangible equity (RoTE) of over 10% and approximately 10.5% excluding inorganic activity. The bank aims for net interest income (NII) of around £11.0 billion, up from the previous target of £10.7 billion, and a cost-to-income ratio of about 63%. Barclays also expects a loan loss rate (LLR) of 50-60 basis points and plans to maintain a CET1 ratio within the 13-14% range.
August 01, 2024 | 7:22 am
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Barclays has updated its 2024 financial outlook, targeting a RoTE of over 10% and NII of around £11.0 billion. The bank also aims for a cost-to-income ratio of about 63% and expects a loan loss rate of 50-60 basis points.
The updated financial targets indicate a positive outlook for Barclays, with higher NII and a strong RoTE target. This is likely to boost investor confidence and positively impact the stock price in the short term.
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