Barclays Stock Earnings Reports

Barclays delivered a strong Q3 2025 with top-line momentum and improving returns. Group income rose ~11% year-on-year to £7.2bn, TNAV per share increased to 392p, and Q3 RoTE was 10.6% (12.3% year-to-date). Management upgraded 2025 RoTE guidance to >11% and reaffirmed the >12% target for 2026. They raised group NII guidance slightly (now expected >£12.6bn for 2025) supported by UK lending momentum, operational progress in the U.S. Consumer Bank, and a larger/higher-yielding structural hedge (now £11.8bn locked for 2025–26 and average hedge duration increased to 3.5 years). Capital generation remains strong (CET1 14.1% pro forma 13.9% after a £500m share buyback brought forward), and management intends to announce buybacks quarterly subject to approvals. Efficiency delivery is ahead of plan (circa £500m gross savings for 2025 achieved one quarter early; £1.5bn of the £2bn 2026 target achieved so far). Key headwinds/notes: a £235m motor finance provision increased Q3 costs and reduced profits; group impairment charge was £632m (loan loss rate 57bp) including a circa £110m single-name charge in the investment bank and a lower-than-expected day-1 charge on the GM card acquisition. Business highlights: double-digit RoTE in all divisions; UK mortgages showing sustained net lending growth (5 quarters); UK Corporate lending and market share gains; Investment Bank improving income/RWA efficiency; U.S. Consumer Bank NIM progression to 11.5% and RoTE 13.5% with continued focus on reaching mid-teens longer term. Management will provide updated targets through to 2028 in February 2026.