Barclays PLC (BCS) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:06.117 Welcome to Barclays Q3 2025 Results Analyst and Investor Conference Call. 00:00:06.117 -- 00:00:10.742 I will now hand over to C.S. Venkata Krishnan, Group Chief Executive, before I hand over 00:00:10.742 -- 00:00:13.906 to Anna Cross, Group Finance Director. 00:00:13.906 -- 00:00:20.631 Good morning, everyone. Thank you for joining Barclays' third quarter 2025 results call. 00:00:21.194 -- 00:00:25.018 We are well into the second half of the three-year plan, which we shared with you in 00:00:25.018 -- 00:00:27.065 February 2024. 00:00:27.065 -- 00:00:31.149 I'm very pleased with the momentum and consistency of progress which we have shown in 00:00:31.149 -- 00:00:33.312 the last seven quarters. 00:00:33.312 -- 00:00:38.317 This quarter, our top line income increased by 11% to 7.2 billion 00:00:38.317 -- 00:00:43.763 pounds from 6.5 billion pounds in the same quarter last year. 00:00:43.763 -- 00:00:48.949 Our income growth has allowed our tangible net asset value per share, TNAV, 00:00:48.949 -- 00:00:54.235 to rise to 392 pence compared to 384 pence per share in the previous 00:00:54.235 -- 00:01:00.201 quarter. And we have delivered a third quarter ROTE of 10.6%, 00:01:00.201 -- 00:01:02.443 which equates to 12.3% 00:01:02.443 -- 00:01:06.044 for the year to date 2025. We are therefore 00:01:07.087 -- 00:01:12.653 upgrading our 2025 ROTE guidance to greater than 11%, 00:01:12.653 -- 00:01:16.456 and we are reaffirming our 2026 target 00:01:16.456 -- 00:01:19.517 of more than 12%. 00:01:19.559 -- 00:01:23.743 Our returns are supported by a stronger outlook for stable income. 00:01:23.743 -- 00:01:28.862 We now expect group NII for 2025 to be more 00:01:28.862 -- 00:01:34.468 than 12.6 billion pounds, up from more than 12.5 billio...