Barclays · Q4 2026 earnings

Briefing

Barclays Q1 profit before tax rises to £2.8bn as total income reaches £8.2bn

Barclays PLC reported first-quarter 2026 results for the three months ended March 31, 2026. Group total income increased 6% year over year to £8,163 million, driven by higher net interest income and investment banking fees. Profit before tax rose to £2,814 million from £2,719 million, and attributable profit increased 4% to £1,932 million. Basic earnings per ordinary share were 14.1p versus 13.0p in Q1 2025. The cost-to-income ratio improved to 56% from 57%, return on tangible equity was 13.5%, and the CET1 ratio stood at 13.5%. Barclays UK delivered attributable profit of £591 million with total income up 9% to £2,258 million. Management reiterated medium-term targets including greater than 5% total income CAGR through 2028 and a Group cost-to-income ratio in the low 50s.

• Group total income of £8.16 billion rose 6% year over year with profit before tax of £2.81 billion.
• Attributable profit increased 4% to £1.93 billion and basic EPS rose to 14.1p from 13.0p.
• Cost-to-income ratio improved to 56% with return on tangible equity of 13.5% and CET1 ratio of 13.5%.
• Barclays UK income grew 9% to £2.26 billion with attributable profit of £591 million.
• Investment Bank income rose on Global Markets and banking fees despite GBP strength headwinds.

Headline financials

Revenue & EPS history

Barclays reiterated medium-term targets including greater than 5% Group total income CAGR from 2025 to 2028, a cost-to-income ratio in the low 50s, and RoTE above 14% by 2028.