Based on the expected macroeconomic environment, the Group’s strategy and investment and reflecting our growth potential, efficiency and the capabilities of our people, technology and data, the Group has enhanced its medium and longer-term guidance: Operating costs now expected to be c.GBP 9.2 billion in 2024, with a cost:income ratio of less than 50 per cent by 2026; Asset quality ratio now expected to be c.30 basis points in 2024; Return on tangible equity now expected to be c.13 per cent in 2024 and greater than 15 per cent by 2026; Additional revenues from strategic initiatives of c.GBP 0.7 billion by 2024 and c.GBP 1.5 billion by 2026; Risk-weighted assets to be between GBP 220 billion and GBP 225 billion at the end of 2024; Capital generation now expected to be c.175 basis points in 2024, increasing to greater than 200 basis points by 20266; The Group will maintain its progressive and sustainable ordinary dividend policy, whilst the Board expects to pay down to its target CET1 ratio by the end of 2024.
Published first on TheFly
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