Barclays: Weak Core Business And Brexit Uncertainty [Seeking Alpha]
Barclays PLC (BCS)
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Source: Seeking Alpha
Barclays: Weak Core Business And Brexit Uncertainty Summary Fourth quarter underlying PBT was £600m, in line with consensus. UK underlying PBT was below consensus and down 20% year over year. Heavier costs which included £150m Brexit related charge. Target RoTE of 9%+ may be hard to achieve. Barclays PLC ( BCS Source: Company UK core division weak UK underlying PBT of £410m was 26% below consensus on higher costs and Brexit related impairment. Revenues were down 2% qoq and NIM softened by 2 bps to 3.20%. Corporate lending was also weaker than expected. Outlook is for further NIM compression and worsening economic conditions which do not bode well for UK revenues. UK Manufacturing PMI at 4-month low UK Business confidence also falling No meaningful pickup in UK consumer confidence International revenues miss International underlying PBT of £250m were 17% below estimates. There was a rather large increase in Consumer, Card & Payments impairment. In capital markets, FICC revenues were -1
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BCS
Sec Filings
- 4/3/24 - Form 6-K
- 4/3/24 - Form 6-K
- 4/2/24 - Form 6-K
- BCS's page on the SEC website