Barclays PLC (BCS) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.938 Welcome to Barclays Q1 2025 Results Analyst and Investor Conference Call. 00:00:05.938 -- 00:00:11.104 I will now hand over to C.S. Venkatakrishnan, Group Chief Executive, before I hand over 00:00:11.104 -- 00:00:14.649 to Anna Cross, Group Finance Director. 00:00:14.649 -- 00:00:21.535 Good morning, everyone. Thank you for joining Barclays' first quarter 2025 results call. 00:00:22.138 -- 00:00:27.084 At our progress update 11 weeks ago, we outlined expectations for the second year of 00:00:27.084 -- 00:00:32.684 our three-year plan. These were to deliver a better run, a more strongly performing, 00:00:32.684 -- 00:00:35.127 and higher return in Barclays. 00:00:35.127 -- 00:00:39.153 I'm pleased with our performance and progress to date, including in this the first quarter 00:00:39.153 -- 00:00:41.553 of 2025. While 00:00:41.636 -- 00:00:46.642 the environment has certainly become more uncertain, we are firmly on track to achieve 00:00:46.642 -- 00:00:51.228 the full objectives of our plan, including approximately 00:00:51.228 -- 00:00:55.571 11% return on tangible equity for 2025. 00:00:55.685 -- 00:01:00.169 Our confidence reflects the inherent diversification of our business, 00:01:00.169 -- 00:01:05.233 the careful and proactive approach which we adopt to managing risk, and our ongoing 00:01:05.233 -- 00:01:09.415 focus and delivery of operational efficiency. 00:01:09.978 -- 00:01:15.282 All of this is supported by a robust balance sheet, including a 13.9% 00:01:15.282 -- 00:01:18.765 CET1 ratio at the end of the first quarter. 00:01:18.765 -- 00:01:24.777 This is intentionally towards the top of our 13 to 14% target range. 00:01:24.777 -- 00:01:28.960 In addition, we are supported with very strong liquidity. 00:01:29.843 -- 0...