BARCLAYS PLC Earnings Summary — Q1 2026

• Attributable net income rose 20% YoY to £2.18 billion in Q1 2026, despite a significant drop in non-interest income.
• Non-interest income plummeted to £21 million from £4.21 billion a year prior, a 99.5% decline.
• Net Interest Income (NII) remained a pillar of strength, growing 10.2% YoY to £3.80 billion.
• Provision for credit losses increased to £823 million, up from £643 million in Q1 2025, signaling higher credit risk expectations.
• Share count continued its downward trajectory, dropping 4.1% YoY to 3.432 billion shares through ongoing buybacks.
• The bank's resegmentation strategy aims for simplified reporting across five new business divisions to improve transparency.

Management remains focused on achieving a Return on Tangible Equity (RoTE) target of 12%+ by 2026, though execution is required in a cooling interest rate environment.

Stable

While net income grew, the drastic collapse in non-interest income and rising credit provisions offset the gains from net interest income.

Barclays faces a transition phase as Net Interest Margin (NIM) peaks and deposit migration intensifies; however, robust capital ratios and share buybacks provide a buffer.