Barclays Announces $650 Million Share Buyback
Expected to deliver RoTE (Return on Tangible Equity) of greater than 11%
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- Written by Banking Exchange staff
British lender Barclays increased its guidance and announced a £500 million ($667 million) share buyback in its third-quarter earnings on Wednesday.
The bank said it now expected to deliver RoTE (Return on Tangible Equity) of greater than 11%, up from around 11%, for the full year.
Net interest income (excluding investment banking and head office) guidance was also upgraded to more than £12.6 billion for the year, up from over £12.5 billion.
CEO C. S. Venkatakrishnan said, “Our consistent and strong delivery has laid the foundations for greater performance beyond 2026, and I look forward to sharing updated targets to 2028 alongside our FY25 Results.”
While third-quarter profit came in slightly below expectations, Barclays' results still had positive effects on the markets as large financial institutions show great gains.
Industry leaders such as Jamie Dimon of JP MorganChase, however, are continuing to communicate caution when it comes to growth.
Tagged under Bank Performance; Mergers Acquisitions; Feature; Profitability; M&A; Global Exchange; Feature3;