Barclays PLC Q1 2026 Results
Barclays PLC reported its Q1 2026 interim results, with a profit before tax of Β£2,814 million, a 3% increase year-on-year. The Group's Return on Equity (RoE) was 11.8% and Return on Tangible Equity (RoTE) was 13.5%. Total income rose by 6% to Β£8,163 million, driven by a 6% increase in Net Interest Income (NII) to Β£3.7 billion and a 4% rise in Barclays Investment Bank income. Operating expenses increased by 4% to Β£4,547 million, primarily due to increased investment spend, business growth, and inflation, partially offset by cost efficiencies. Credit impairment charges rose to Β£823 million, including a Β£228 million single name impairment in the Investment Bank. The Common Equity Tier 1 (CET1) ratio stood at 14.1%. Barclays announced an intention to initiate a share buyback of up to Β£500 million and reiterated its 2026 and 2028 financial targets. The company also addressed the FCA's motor finance redress scheme, increasing its provision by Β£105 million. Additionally, Barclays exited its American Airlines co-branded credit card partnership and announced the expected acquisition of Best Egg, Inc.