LONDON (dpa-AFX) - British lender Barclays PLC (BCS) reported higher third-quarter profit with increased income in all segments, except Barclays US Consumer Bank. Further, the company announced a £500 million share buyback, and said it is on track to deliver its fiscal 2026 and 2028 targets.
Barclays stated that it has either achieved or is on track to achieve all 2026 Group targets with one quarter remaining before the end of its original three-year plan.
For fiscal 2026, the bank still expects group total income of approximately £31.5 billion. Group net interest income excluding the Investment Bank and Head Office is expected to exceed £13.7 billion, with Barclays UK net interest income targeted around the middle of the £8.1 billion to £8.3 billion guided range.
Barclays also said it is confident in and committed to 2028 targets outlined earlier in the year, with income expected to be greater than 5 percent compound annual growth rate or CAGR basis.
Further, the bank announced a new £500 million share buyback tranche. Year-to-date distributions reached £2.8 billion, up 46 percent compared with the same period last year.
In the third quarter, profit before tax was £2.32 billion, up 12 percent from £2.08 billion in the same period last year. Attributable profit reached £1.65 billion, a growth of 13 percent from last year's £1.46 billion.
Basic earnings per share for the quarter stood at 12.3 pence, representing an 18 percent increase from 10.4 pence a year ago. The increase reflected improved performance across the banking group's divisions.
Total income increased 3 percent to £7.37 billion from £7.17 billion in the prior year period.
Barclays UK generated income of £2.35 billion, up 4 percent year-on-year. The Barclays Investment Bank division posted income of £3.13 billion, up 1 percent compared with the prior year quarter.
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