Barclays reports Q2 EPS 8.3p vs. 8.6p last year

Group statutory RoTE was 9.9% with profit before tax of GBP 1.9bn including the impact of inorganic activity; Excluding the impact of inorganic activity, Group RoTE was 11.8%; Group income of GBP 6.3bn was up 1% year-on-year, with Group NII excluding IB and Head Office of GBP 2.7bn, of which Barclays UK NII was GBP 1.6bn. Reports CET1 ratio of 13.6%. C. S. Venkatakrishnan, Group Chief Executive, commented, “We are making good progress on our three-year plan, with a RoTE of 11.1% in the first half of 2024, which puts us on track for our target of greater than 10% RoTE in 2024. We completed the sale of the performing Italian mortgage book, announced the sale of the German consumer finance business, and are on track to complete the acquisition of Tesco Bank in November 2024. We announced a half year dividend of 2.9p per share alongside a share buyback of up to GBP 750m, with total capital distributions to shareholders of GBP 1.2bn in respect of the first half of 2024.”