April 25, 2024 06:17 GMT
Barclays Initial Reaction: Beat On Loan Losses
FINANCIALS
Barclays 1Q24 results headlines look inline on revenues (though FICC failed to perform as strongly as some US peers) with better loan losses driving a profit beat:
- CET1 is 13.5% (inline with ests)
- Loan losses are lower than consensus (513m vs. 567 est.)
- BARCLAYS STILL SEES FY CET1 RATIO 13% TO 14%, EST. 13.5%
- BARCLAYS 1Q PRETAX PROFIT GBP2.28B, EST. GBP2.13B
- BARCLAYS 1Q INVESTMENT BANK REV. GBP3.33B, EST. GBP3.35B
- BARCLAYS 1Q FICC REV. GBP1.40B, EST. GBP1.52B
- BARCLAYS 1Q EQUITIES REV. GBP883M, EST. GBP669.1M
- BARCLAYS 1Q NET INTEREST INCOME GBP3.07B, EST. GBP3.07B
- BARCLAYS STILL SEES FY LOAN-LOSS RATE 0.5% TO 0.6%, EST. 0.52%
Keep reading...Show less
93 words