Barclays Q3 2021 Results
Barclays has announced its Q3 2021 Results on Thursday 21st October 2021.
Further details:
Conference call and webcast hosted by Jes Staley, Group Chief Executive and Tushar Morzaria, Group Finance Director
Replay dial in:
+44 (0)20 3936 3001 (all locations)
+1 845 709 8569 (US)
Access code: 986582
Webcast replay link
Key documents
Financial performance highlights
Group Chief Executive Officer’s review
On top of a good first half, a strong third quarter performance means Barclays has delivered its highest Q3 YTD pre-tax profit on record in 2021, demonstrating the benefits of our diversified business model.
Group CEO
Updates from across the business
Barclays Group
The Group’s diversified business model delivered a record Group profit before tax of £6.9bn (Q320 YTD: £2.4bn), a return on tangible equity (RoTE) of 14.9% (Q320 YTD: 3.6%) and earnings per share (EPS) of 30.8p (Q320 YTD: 7.6p). Total income was stable at £16.8bn (Q320 YTD: £16.8bn). We continue to support our customers and clients through the COVID-19 pandemic, have achieved a double-digit RoTE in every quarter year to date, and expect to deliver a full year RoTE above 10%. Our CET1 ratio of 15.4% means we are also in a strong position to balance this growth with a key priority of returning excess capital to shareholders.
Barclays UK
Barclays UK delivered a RoTE of 17.9% (Q320 YTD: 2.2%) reflecting materially lower credit impairment charges. Profit before tax increased to £1,957m (Q320 YTD: £264m). Total income increased 2% to £4,837m. Net interest income reduced 1% to £3,889m with a net interest margin (NIM) of 2.53% (Q320 YTD: 2.63%) as strong customer retention and improved margins in mortgages was more than offset by lower unsecured lending balances. Net fee, commission and other income increased 18% to £948m, returning back towards pre-COVID-19 pandemic levels.
Barclays International
Barclays International delivered a RoTE of 16.4% (Q320 YTD: 7.5%), reflecting a RoTE of 16.4% (Q320 YTD: 10.5%) in CIB and 16.2% (Q320 YTD: (10.6)%) in CC&P. Profit before tax increased 97% to £5,500m. Investment Banking fees and Equities income had their best Q3 YTD on a comparable basis. The 9% depreciation of average USD against GBP adversely impacted income and profits and positively impacted total operating expenses.
Annual Report 2020
Our strategy is working and we are confident Barclays is in a strong position for the challenges and opportunities ahead.
Our 2021 Annual General Meeting
The Barclays PLC 2021 AGM was held on Wednesday 5 May 2021 at 11:00 (UK time) at 1 Churchill Place, London E14 5HP and on an electronic platform as described in the Notice of Meeting (PDF 1.4MB).
Contact Investor Relations
For any enquiries, please do not hesitate to contact a member of the relevant team.
Jes Staley - Group Chief Executive Officer Review
On top of a good first half, a strong third quarter performance means Barclays has delivered its highest Q3 YTD pre-tax profit on record in 2021, demonstrating the benefits of our diversified business model. We continue to support our customers and clients through the COVID-19 pandemic, have achieved a double-digit RoTE in every quarter year to date, and expect to deliver a full year RoTE above 10%.
While the CIB performance continues to be an area of strength for the Group, we are also seeing evidence of a consumer recovery and the early signs of a more favourable rate environment. Against that backdrop, we are focused on balancing cost efficiencies with further investment into high-returning growth opportunities.
Our CET1 ratio of 15.4% means we are also in a strong position to balance this growth with a key priority of returning excess capital to shareholders.