Barclays Plc · LSE:BARC
Barclays — Q1 2026 Earnings Presentation
54 slides from Barclays's earnings presentation, Apr 28, 2026
Slide 1: Q1 2026 Results Presentation
Q1 2026 Results Presentation 28th April 2026
Slide 2: Group Q126 performance against financial targets
Group Q126 performance against financial targets Barclays Q126 Results April 2026 2 Targets Q126 actuals 2026 targets 2028 targets Statutory RoTE 13.5% >12% >14% Progressive increase >£15bn2 Total payout £0.5bn vs 20252 With capacity to support Share buyback incl. planned £2bn investment and growth
Slide 3: Q126 performance summary
Q126 performance summary Barclays Q126 Results April 2026 3 Q126 Statutory RoTE Barclays UK 19.7% FY26 target: >20% Execution progress UK Corporate Bank 19.9% Announced £500m share buyback for Q126 FY26 target: high teens% Private Bank & Wealth 25.5% Management FY26 target: >25% Realised c.£150m of
Slide 4: Barclays Group Q126
Barclays Group Q126 Barclays Q126 Results April 2026 4 13.5% £2.8bn Statutory RoTE Profit before tax Q125: 14.0% Q125: £2.7bn £8.2bn £0.8bn Income Impairment Q125: £7.7bn Q125: £0.6bn 56% £4.5bn Cost: income ratio Costs Q125: 57% Q125: £4.4bn 74bps 14.1p Loan loss rate1 EPS Q125: 61bps Q125: 13.0p 1
Slide 5: Group delivered Q126 RoTE of 13.5%; Profit before tax up 3% YoY
Group delivered Q126 RoTE of 13.5%; Profit before tax up 3% YoY Barclays Q126 Results April 2026 5 Group RoTE (%) Profit before tax (£m) +3% Profit before impairment +8% 8% tangible (1.0) equity growth 2,598 2,719 2,814 2.5 2,399 2,234 2,277 (1.0) (1.0) Operating jaws +2% Q121 Q122 Q123 Q124 Q125 Q1
Slide 6: Group income of £8.2bn, up 6% YoY, driven by stable income streams
Group income of £8.2bn, up 6% YoY, driven by stable income streams Barclays Q126 Results April 2026 6 Group income (£bn) +6% YoY 8.2 YoY QoQ 7.7 7.1 0.8 +17% +24% Investment 7.0 0.6 c.£31bn income target in FY26 Banking fees & 0.6 0.6 1.8 -1% +111% underwriting 1.8 0.9 Intermediation 1.6 More stable
Slide 7: Group NII of £3.4bn, up 12% YoY; FY26 guidance of >£13.5bn
Group NII1 of £3.4bn, up 12% YoY; FY26 guidance of >£13.5bn Barclays Q126 Results April 2026 7 Net interest income (£bn) +12% YoY 4.00 3.50 3.4 3.4 3.0 2026 Group NII1 guidance: >£13.5bn 3.00 2.7 2026 Barclays UK NII guidance: £8.1 – £8.3bn 1.4 1.4 2.50 UK Corporate Bank, 1.2 Private Bank & Wealth N
Slide 8: Structural hedge expected to deliver income growth beyond 2028
Structural hedge expected to deliver income growth beyond 2028 Barclays Q126 Results April 2026 8 Continued structural hedge momentum Hedge notional (£bn) 3.9% Q126: 3.9% GBP 7yr average10000 swap rate1 246 236 242 5000 232 Average 14000 2.5% Q126: 2.8% hedge yield2 12000 0 10000 +>£1bn Product 197
Slide 9: 56% cost: income ratio in Q126; FY26 guidance of high 50s%
56% cost: income ratio in Q126; FY26 guidance of high 50s% Barclays Q126 Results April 2026 9 Cost: income ratio (%) Group total costs (£m) Includes Motor Finance provision of £105m Q124 Q125 Q126 2026 target YoY 60 57 56 c.100 c.50 Group High 50s% c.(150) c.50 c.150 Delivered c.£150m of cost 58 56
Slide 10: Expect FY26 to be around the top of 50-60bps through the cycle guidance
Expect FY26 to be around the top of 50-60bps through the cycle guidance Barclays Q126 Results April 2026 10 Loan loss rate (bps) Impairment charge (£m) 190 US Consumer Bank 610 562 558 5052 491 410 399 367 438 456 140 411 395 Q124 Q125 Q126 Includes £228m single name Group charge in Investment Bank
Slide 11: Broadly stable delinquency trends in US cards
Broadly stable delinquency trends in US cards Barclays Q126 Results April 2026 11 30 day US cards delinquencies 3.1% 2.9% 3.0% 3.0% 3.0% 2.8% 2.9% 3.0% 3.1% 90 day US cards delinquencies 1.7% 1.6% 1.6% 1.6% 1.6% 1.6% 1.6% 1.7% 1.5% USCB loan loss rate1 (bps) 610 438 411 395 562 456 5055 558 491 USCB
Slide 12: On track to deploy c.£30bn UK RWA by 2026; UK lending growth 5% YoY
On track to deploy c.£30bn UK RWA by 2026; UK lending growth 5% YoY Barclays Q126 Results April 2026 12 Continued strong net mortgage growth Card acquisitions driving balance growth YoY HLTV mix1 15% 14% 18% 22% 26% 23% 26% 23% Card 243 251 288 386 374 371 317 364 acquisitions (k)2 8.1 8.5 9.6 9.3 1
Slide 13: Barclays UK Q126
Barclays UK Q126 Barclays Q126 Results April 2026 13 19.7% £0.9bn Statutory RoTE Profit before tax Q125: 17.4% Q125: £0.8bn £2.3bn £2.0bn Income Net Interest Income Q125: £2.1bn Q125: £1.8bn 54% £178m Cost: income ratio Impairment Q125: 56% Q125: £158m 31bps £217.8bn Loan loss rate Loans1 Q125: 28bp
Slide 14: Barclays UK delivered Q126 RoTE of 19.7%
Barclays UK delivered Q126 RoTE of 19.7% Barclays Q126 Results April 2026 14 RoTE (%) Income by business (£m) YoY Total costs (£m) Expect H2 costs lower vs H1 YoY 2,262 2,258 +9% 2,074 1,826 560 533 +6% 501 Business 469 Banking 1,160 1,329 1,217 +5% 1,063 Retail 1,357 1,573 1,702 1,725 +10% Banking
Slide 15: Seasonal deposit trends; seventh consecutive quarter of organic loan growth
Seasonal deposit trends; seventh consecutive quarter of organic loan growth Barclays Q126 Results April 2026 15 Barclays UK deposit balances and mix (£bn) Barclays UK loans and advances1 (£bn) -£1.1bn -£1.8bn +£0.2bn +£3.1bn -£0.7bn +£1.9bn +£1.6bn +£2.2bn +£3.1bn +£1.3bn YoY YoY 213 217 218 +4% 244
Slide 16: UK Corporate Bank Q126
UK Corporate Bank Q126 Barclays Q126 Results April 2026 16 19.9% £0.3bn Statutory RoTE Profit before tax Q125: 17.1% Q125: £0.2bn £0.5bn £0.3bn Income Costs Q125: £0.5bn Q125: £0.3bn 48% £3m Cost: income ratio Impairment Q125: 53% Q125: £19m 4bps £27.3bn Loan loss rate RWAs Q125: 28bps Dec-25: £26.5
Slide 17: UK Corporate Bank delivered Q126 RoTE of 19.9%
UK Corporate Bank delivered Q126 RoTE of 19.9% Barclays Q126 Results April 2026 17 RoTE (%) Income by product (£m) YoY Income by type (£m) YoY 539 530 +10% 539 530 +10% 484 484 434 97 89 +11% 434 Corporate 80 143 136 -4% 72 142 lending Non-NII 157 Transaction 404 442 441 +9% 396 394 362 342 +15% ban
Slide 18: Private Bank & Wealth Management Q126
Private Bank & Wealth Management Q126 Barclays Q126 Results April 2026 18 25.5% £0.1bn Statutory RoTE Profit before tax Q125: 34.5% Q125: £0.1bn £0.3bn £0.3bn Income Costs Q125: £0.3bn Q125: £0.2bn 74% £8.2bn Cost: income ratio RWAs Q125: 68% Dec-25: £8.0bn £223.8bn £51.6bn Client Assets & Liabiliti
Slide 19: Private Bank & Wealth Management delivered Q126 RoTE of 25.5%
Private Bank & Wealth Management delivered Q126 RoTE of 25.5% Barclays Q126 Results April 2026 19 Expect to build RoTE (%) Income by type (£m) YoY Total costs (£m) QoQ in 2026 YoY 349 348 347 -1% 312 145 146 143 -1% Non-NII 137 296 236 257 +9% 217 NII 175 204 202 204 0% Q124 Q125 Q425 Q126 Q124 Q125
Slide 20: Investment Bank Q126
Investment Bank Q126 Barclays Q126 Results April 2026 20 15.0% £1.6bn Statutory RoTE Profit before tax Q125: 16.2% Q125: £1.7bn £4.0bn £2.1bn Income Costs Q125: £3.9bn Q125: £2.1bn 53% £279m1 Cost: income ratio Impairment Q125: 54% Q125: £72m £201.7bn 55% RWAs RWAs as % of Group Dec-25: £196.7bn Dec
Slide 21: Operational performance on track in Investment Bank
Operational performance on track in Investment Bank Barclays Q126 Results April 2026 21 Maintaining capital discipline Driving efficiency of capital Growing more stable income streams Period-end IB RWAs (£bn) Income / average RWAs (%) 36% from stable income streams in Q126 (£bn) 13.1 YoY 11.61 11.8
Slide 22: Investment Bank delivered Q126 RoTE of 15.0%
Investment Bank delivered Q126 RoTE of 15.0% Barclays Q126 Results April 2026 22 RoTE (%) Investment Bank income (£bn)1 YoY 3,873 4,028 +4% 3,328 2,792 2,470 2,559 +4% Other income2 2,204 1,461 More stable 1,4034 1,469 +5% 1,124 1,331 income streams3 Q124 Q125 Q425 Q126 16.2 15.0 Investment Bank inc
Slide 23: Income up 4% YoY; solid performance in Equities, Advisory and ECM
Income up 4% YoY; solid performance in Equities, Advisory and ECM Barclays Q126 Results April 2026 23 Global Markets Investment Banking Investment Income by product (£m) Income by type (£m) Income (£m) Banking fees +25% USD YoY1 +6% YoY +6% YoY +13% USD -1% YoY +13% USD 2,832 YoY 2,662 2,832 YoY 1,2
Slide 24: US Consumer Bank Q126
US Consumer Bank Q126 Barclays Q126 Results April 2026 24 18.8% £0.2bn | $0.3bn Statutory RoTE Profit before tax Q125: 4.5% Q125: £0.1bn | $0.1bn $36.2bn £1.0bn | $1.3bn End net receivables1 Income Dec-25: $37.6bn Q125: £0.9bn | $1.1bn 12.8% £0.4bn | $0.5bn Net Interest Margin Costs Q125: 10.5% Q125
Slide 25: Operational performance on track in US Consumer Bank
Operational performance on track in US Consumer Bank 25 Barclays Q126 Results April 2026 Organic and inorganic balance growth Margin tracking to >13% Rebalancing mix towards retail End Net Receivables ($bn)1 Net interest margin (%) Retail mix (%)3 +12% since 20232 37.6 +9% YoY 12.8 34.2 36.2 10.9 10
Slide 26: US Consumer Bank delivered Q126 RoTE of 18.8%
US Consumer Bank delivered Q126 RoTE of 18.8% Barclays Q126 Results April 2026 26 YoY RoTE (%) Income by type (£m) Total costs (£m) 1,053 +14% YoY 983 +21% USD 859 864 277 160 -14% Non-NII 171 186 -9% USD 390 410 432 380 -7% 776 823 +21% NII 688 678 -1% USD +29% USD 12.5 Q124 Q125 Q425 Q126 Q124 Q12
Slide 27: Robust capital position with 14.1% CET1 ratio (13.9% rebased)
Robust capital position with 14.1% CET1 ratio (13.9% rebased) Barclays Q126 Results April 2026 27 Q126 CET1 ratio movements (14bps) 53bps (22bps) (27bps) (16bps) c.(14bps) 14.3% 14.0% 14.1% 13.9% Q425 Q425 announced Q425 rebased Attributable Dividend RWA Other Q126 Q126 announced Q126 rebased buybac
Slide 28: Group RWAs increased by c.£8bn quarter on quarter; of which £2.1bn is FX
Group RWAs increased by c.£8bn quarter on quarter; of which £2.1bn is FX Barclays Q126 Results April 2026 28 Risk weighted assets (£bn) IB % of Group: 57% 56% 55% 55% 5.0 0.2 0.0 1.7 0.8 0.2 £1.7bn increase driven by FX QoQ 364.5 351.3 356.8 349.6 Q124 Q125 Q425 Barclays UK UK Corporate Private Bank
Slide 29: Consistent capital and liquidity over time
Consistent capital and liquidity over time Barclays Q126 Results April 2026 29 Historical performance 13.8% 14.1% 13-14% target CET1 ratio 12.2% MDA 2019 2020 2021 2022 2023 2024 2025 Q126 82% 75% Loan: deposit Prudent LDR over time ratio 2019 2020 2021 2022 2023 2024 2025 Q126 165% Average Liquidit
Slide 30: Tangible book value per share +33p year on year, +9% YoY
Tangible book value per share +33p year on year, +9% YoY Barclays Q126 Results April 2026 30 QoQ TNAV movements (pence per share) 14 (0) (6) (11) (1) 384 392 409 409 423 417 406 405 405 Q225 Q325 Q425 Attributable Share buyback Dividends paid Cash flow Other² Q126 profit¹ hedge reserve YoY TNAV move
Slide 31: Group Q126 performance against financial targets
Group Q126 performance against financial targets Barclays Q126 Results April 2026 31 Targets Q126 actuals 2026 targets 2028 targets Statutory RoTE 13.5% >12% >14% Progressive increase >£15bn2 Total payout £0.5bn vs 20252 With capacity to support Share buyback incl. planned £2bn investment and growth
Slide 32: Why Barclays
Why Barclays Barclays Q126 Results April 2026 32 1 High returning UK retail and corporate franchises 2 Top-tier global Investment Bank with focus and scale, operating in core UK and US markets 3 Disciplined capital allocation driving growth within higher returning divisions and greater RWA productiv
Slide 33: Q&A
Q&A
Slide 34: Appendix
Appendix
Slide 35: Better returns: through business mix and improved performance
Better returns: through business mix and improved performance Barclays Q126 Results April 2026 35 Statutory RoTE 2023 2025 2026 2028 2023 vs 2025 2025 vs 2028 19% 21% >20% >20% Barclays UK c.£20bn of c.£30bn UK >5% lending CAGR Improving mix business growth RWAs 21% 19% High teens >20% Further RWA U
Slide 36: Plan continues to be based on realistic assumptions
Plan continues to be based on realistic assumptions Barclays Q126 Results April 2026 36 UK Unemployment UK Inflation UK Rates 4.2% 4.2% 4.3% 7 year GBP swap rate 3.8% Market implied1 10th Feb Hedge reinvestment 3.5% 3.5% 3.5% 5.4% Consensus1 5.1% 5.1% 2026 3.4% rate 3.3% 10th Feb Consensus1 UK bank
Slide 37: Resilient UK economic trends
Resilient UK economic trends Barclays Q126 Results April 2026 37 UK GDP growth comparable to US and Euro economies1 UK debt-to-GDP lower than historic highs2 2025 2026E 2027E Households Non-financial corporations Nominal GDP growth Debt as a % of GDP 6% 100% 5% 4% 80% 3% 2% 60% 1% 0% 40% UK US Euroz
Slide 38: Global Markets risk managed prudently
Global Markets risk managed prudently Barclays Q126 Results April 2026 38 Global Markets: VaR Global Markets: Daily trading income distribution2 Russia/ US banking £60m Ukraine crisis Q126 Average Q121-25 £40m Average VaR1 £21m £20m <£0m £0-15m £16-30m £31-50m £50m+ Average 1 8 23 26 8 £0m Q121 –25
Slide 39: Impairment: maintaining Group through the cycle LLR guidance of 50-60bps
Impairment: maintaining Group through the cycle LLR guidance of 50-60bps Barclays Q126 Results April 2026 39 Group has operated within 50-60bps LLR for the past decade Structurally lower UK impairment BUK: c.30bps LLR through the cycle Q126 90d+ arrears 138 Group LLR Mortgages Average LLR between FY
Slide 40: Well provisioned balance sheet
Well provisioned balance sheet Barclays Q126 Results April 2026 40 Balance sheet provisions for ECL (£bn) Credit impairment charges (£m) 823 5.7 6.0 Off-balance sheet 0.4 Barclays UK 0.4 178 Private Bank & 3 Wealth Management UK Corporate Bank 535 On-balance sheet 74 279 Investment Bank 5.3 5.6 1 22
Slide 41: Long-term prudent risk positioning in our credit card portfolios
Long-term prudent risk positioning in our credit card portfolios Barclays Q126 Results April 2026 41 UK cards1 US cards2 22.6 23.3 24.0 25.7 15.0 16.2 19.3 13.6 16.3 Net L&A3 (£bn) 9.8 Net L&A3 (£bn) 13.5 8.7 8.4 9.0 12.5% 14.3% 17.5% 10.4% 8.9% 11.0% 10.4% 10.2% 12.4% 12.8% Total coverage 7.7% 6.5%
Slide 42: Our US Cards book is high quality and stable, with no signs of stress
Our US Cards book is high quality and stable, with no signs of stress Barclays Q126 Results April 2026 42 US consumer indebtedness lower versus historic levels1 Our book is positioned in the super-prime segment 2008 crisis Pandemic 790 10% 25% Super-prime 740 8% 20% Prime 690 Q126 USCB 6% 15% Near P
Slide 43: Acquisition of Best Egg and sale of American Airlines to complete in Q226
Acquisition of Best Egg and sale of American Airlines1 to complete in Q226 Barclays Q126 Results April 2026 43 Estimated impacts in Q226 Annual normalised income ($m)2 American Airlines Best Egg c.$700m2 partnership exit acquisition Capital light origination and servicing fees Income c.$300m gain on
Slide 44: Resilient mortgage book; leveraging capabilities of Kensington
Resilient mortgage book; leveraging capabilities of Kensington Barclays Q126 Results April 2026 44 Mortgage portfolio Kensington adding capabilities to Barclays UK • 56.2% average balance weighted LTV of mortgage stock Ability to lend to high-yield, low risk customers with complex incomes o 42.3% av
Slide 45: Structured financing exposure to NBFIs
Structured financing exposure to NBFIs Barclays Q126 Results April 2026 45 Q126: £66bn1 Securitised Products • Warehouse solutions, often with intention to distribute o Skew towards top tier counterparties with high frequency reporting of collateral performance Residential o Senior attachment points
Slide 46: Private Credit illustrative example
Private Credit illustrative example Barclays Q126 Results April 2026 46 At inception 10% asset value decline Investors Bank Investors Bank >£150m >£150m investment investment committed committed £200m £200m senior secured senior secured Private Credit fund debt, with Private Credit fund debt, with <
Slide 47: Risk transfer transactions enhance Barclays' risk management capabilities
Risk transfer transactions enhance Barclays’ risk management capabilities Barclays Q126 Results April 2026 47 Purpose Q425: Barclays transfers c.£54bn1 risk via a variety of structures • The banking book has inherent credit Corporate • Credit linked notes (CLNs) sold to investors risk, driving risk
Slide 48: Risk transfer activities focused on corporate loans and credit cards
Risk transfer activities focused on corporate loans and credit cards Barclays Q126 Results April 2026 48 Q425: Corporate loans Q425: US credit cards • Colonnade programme established in 2016 • Initiated risk transfer in Q124 to help optimise • Deployed against exposure in the UK Corporate Bank and I
Slide 49: CET1 ratio in relation to our minimum requirements
CET1 ratio in relation to our minimum requirements Barclays Q126 Results April 2026 49 Q126: CET1 minimum requirements MDA 12.2% CCyB 1.0% CCB 2.5% • Have been operating around the top end of our 13-14% CET1 target range • Returns and distributions targets based on operating around this level G-SII
Slide 50: Guidance on regulatory driven RWA inflation
Guidance on regulatory driven RWA inflation Barclays Q126 Results April 2026 50 c.£19-26bn total RWA impact remains unchanged c.£3-10bn Basel 3.1: • FRTB1 impact mostly expected in 2027. Likely to use option to defer elements of FRTB to 20282 c.£3-10bn • Partial offset in Pillar 2A expected on 1st J
Slide 51: Appendix: Barclays UK
Appendix: Barclays UK Barclays Q126 Results April 2026 51 Income by business (£m) 2023 2024 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Retail Banking 1,500 1,481 1,403 1,309 1,357 1,402 1,433 2,0782 1,573 1,599 1,708 1,702 1,725 Of which: UK Cards1 247 237 238 242 229 228 249 296 292 279 296 2
Slide 52: Macroeconomic variables
Macroeconomic variables Barclays Q126 Results April 2026 52 Assumptions 2025 2026 2027 2028 UK GDP2 1.4% 1.3% 1.5% 1.4% UK unemployment3 5.1% 4.8% 4.8% 4.8% UK bank rate4 3.75% 3.50% 3.75% 3.75% Hedge reinvestment rate 3.8%5 3.5% 3.5% 3.5% UK inflation6 3.4% 2.5% 2.2% 2.2% Plan (10th February 2026)
Slide 53: Disclaimer
Disclaimer Barclays Q126 Results April 2026 53 Important Notice The terms Barclays or Group refer to Barclays PLC together with its subsidiaries. The information, statements and opinions contained in this presentation do not constitute a public offer under any applicable legislation, an offer to sel
Slide 54: Contact details, upcoming events and useful presentations
Contact details, upcoming events and useful presentations Barclays Q126 Results April 2026 54 Investor Relations Upcoming events barclays.ir@barclays.com 28th July 2026 Q226 results 22nd October 2026 Q326 results Useful presentations Progress and targets update 2026 Link Progress update 2025 Link Pr