Barclays plc (GB:BARC) has released an update.
Barclays PLC reports a Q1 2024 profit before tax of £2.3 billion and a Return on Tangible Equity (RoTE) of 12.3%, demonstrating progress towards its >10% RoTE 2024 target. The bank remains well-capitalized with a CET1 ratio of 13.5%, within its target range of 13-14%. Announced strategic moves include the sale of its Italian mortgage portfolio and the anticipated acquisition of Tesco Bank’s retail banking business, expected to complete in Q4 2024.
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