Barclays PLC (BCS) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to Berkeley's Full Year 2025 Fixed Income Conference Call. I'll now hand over to Anna Cross, Group Finance Director, and Dan Faircloth, Group Treasurer. Good afternoon, and welcome to the Full Year 2025 Fixed Income Investor Call. I'm joined by Dan Faircloth, our Group Treasurer. Let me begin with a brief overview of our financial performance in 2025. and key areas of the progress and targets update announced this morning. Barclays achieved all financial targets and guidance in 2025. We generated a return on tangible equity of 11.3%, top-line income grew by 9% year-on-year to $29.1 billion, and we achieved our NII guidance for the Group and for Barclays UK. our cost-income ratio once again improved year-on-year to 61%, and the group low loss rate for 52 basis points was comfortably within the 50 to 60 basis points through the cycle guidance. Finally, we remained well capitalised, ending the year at the top of our 13 to 14% target range after accounting for today's buyback. This positions us well to deliver against our 26 targets and provides a solid foundation for future progress. Taking a step back, since 2021, Barclays has been on a journey to sustainably high returns. So far, this has been through stabilising the bank's financial profile and exercising capital discipline, keeping RWA stable in the investment bank and building on its strongest areas. whilst prioritising growth in our highest-returning UK businesses. Alongside this, we have simplified our processes to drive efficiency and exited non-strategic businesses. Year by year, we are improving the profit signature of the group, and by delivering stronger financial results, we've created capacity to invest to secure sustainably higher returns which extends beyond 2028. We believe that our plan continu...