- Barclays Investment Bank’s 2Q revenue: GBP3.31 billion, surpassing the estimate of GBP3.07 billion.
- FICC revenue: GBP1.45 billion, beating the expected GBP1.27 billion.
- Equities revenue: GBP870 million, exceeding the estimate of GBP754.6 million.
- Investment banking fees fell short at GBP568 million, compared to the estimate of GBP601.7 million.
- Corporate lending registered an expense of GBP4 million, contrary to the estimated income of GBP58.8 million.
- Transaction banking income slightly surpassed estimates at GBP423 million versus GBP408.3 million.
- Total income reached GBP7.19 billion, ahead of the GBP6.98 billion estimate.
- UK Personal Banking revenue was slightly below expectations at GBP1.38 billion versus GBP1.4 billion.
- UK Barclaycard Consumer revenue came in lower at GBP218 million, compared to the anticipated GBP240.9 million.
- UK Business Banking revenue slightly exceeded estimates at GBP520 million against GBP517.1 million.
- Barclays UK overall revenue: GBP2.12 billion, missing the target of GBP2.16 billion.
- UK Corporate Bank revenue exceeded expectations at GBP519 million compared to the forecasted GBP485.8 million.
- Private Bank and Wealth Management revenue slightly below estimate at GBP348 million versus GBP351.1 million.
- US Consumer Bank revenue came in lower at GBP823 million, against a forecast of GBP851.2 million.
- Net interest income achieved GBP3.51 billion, higher than the estimated GBP3.47 billion.
- Pretax profit reached GBP2.48 billion, exceeding the estimate of GBP2.26 billion.
- Attributable profit was GBP1.66 billion, higher than the forecasted GBP1.46 billion.
- Return on tangible equity was recorded at +12.3%, above the expectation of +11.3%.
- Cost to Income Ratio aligned with expectations at 59%.
- Common equity Tier 1 ratio maintained at 14%, as estimated.
- Risk-weighted assets slightly over the estimate at GBP353.0 billion compared to GBP352.72 billion.
- Total operating expenses came in at GBP4.23 billion, above the estimated GBP4.16 billion.
- Provision for loan losses was significantly lower than expected at GBP469.0 million, against an estimate of GBP560.3 million.
- Analyst ratings: 15 buys, 5 holds, 1 sell.
A look at Barclays PLC Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 3 | |
| Growth | 5 | |
| Resilience | 5 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 4.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Barclays PLC, a global financial services provider, seems to have a promising long-term outlook based on the Smartkarma Smart Scores analysis. The company has received strong ratings across various key factors. With top scores in Growth, Resilience, and Momentum categories, Barclays appears to be well-positioned in terms of its business expansion, ability to withstand challenges, and overall market momentum.
Notably, Barclays also holds a solid Value score, further indicating the company’s attractive valuation metrics. While the Dividend score is slightly lower, Barclays’ robust performance in growth, resilience, and momentum suggests a positive trajectory for the company’s future. Overall, Barclays PLC may offer investors a compelling opportunity as it navigates the dynamic landscape of financial services with a diversified service portfolio.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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