LONDON (dpa-AFX) - Barclays (BARC.L, BCS) reported that its first quarter profit before tax increased to 2.719 billion pounds from 2.277 billion pounds in the prior year.
Quarterly profit attributable to shareholders of the parent was 1.864 billion pounds or 13.0 pence per share up from 1.550 billion pounds or 10.3 pence per share in the prior year.
Total income for the first quarter increased 11% to 7.709 billion pounds from last year's 6.953 billion pounds, driven by higher structural hedge income, higher income in Global Markets, particularly in FICC, and Tesco Bank.
The company said it remain committed to and confident in delivering its previously announced financial and distribution targets for 2025 and 2026.
The company plans to return at least 10 billion pounds of capital to shareholders between 2024 and 2026, through dividends and share buybacks, with a continued preference for buybacks.
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