Barclays GAAP EPS of 10.40p, revenue of £7.17B; raises FY25 outlook

* Barclays press release (NYSE:BCS [https://seekingalpha.com/symbol/BCS]): Q3 GAAP EPS of 10.40p.
* Group income of £7.17B (+9.5% Y/Y).
* Group RoTE was 10.6% (Q324: 12.3%) with profit before tax of £2.1B (Q324: £2.2B).
* New financial and operational targets through to 2028 to be announced at FY25 Results on 10 February 2026.
* GUIDANCE FOR 2025: Group RoTE upgraded to greater than 11% from 11%, and 2025 Group net interest income excluding Barclays Investment Bank and Head Office upgraded to greater than £12.6B from greater than £1.
* GROUP FINANCIAL GUIDANCE AND TARGETS: 2025 guidance • Returns: RoTE of greater than 11% • Capital returns: progressive increase in total capital returns versus 2024 • Income: Group NII excluding IB and Head Office of greater than £12.6B, of which Barclays UK NII of greater than £7.6B • Costs: Group cost: income ratio of 61%. This includes total gross efficiency savings of c.£500M in 2025 • Impairment: expect an LLR of 50-60bps through the cycle • Capital: CET1 ratio target range of 13-14%.
* 2026 TARGETS • Returns: RoTE of greater than 12% • Capital returns: plan to return at least £10B of capital to shareholders between 2024 and 2026, through dividends and share buybacks, with a continued preference for buybacks.
* Income: Group total income of c.£30B.
* Capital: CET1 ratio target range of 13-14%.

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