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Barclays — Q3 2026 report (PDF 189KB) (company IR deck)
Barclays (BCS) · 3 slides · Filed Oct 22, 2026
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Slide 1 — at a glance – Q3 2026
• Serving >40 million UK and US retail customers; The ‘Premier’ UK bank and digital-only multi-product US bank • Largest UK corporate bank by deposits, serving the full continuum of corporates, with differentiated capacity to drive loan growth • Top-tier Investment Bank, operating in core UK and US markets, building sustainably higher returns by increasing productivity • Driving operating leverage, by adopting digital and AI at scale • Consistent delivery towards >14% RoTE by 2028, with compounding earnings growth building foundations for an all-weather RoTE beyond 2028 • Strong capital generation funding >£15bn shareholder returns 2026 – 20283 3.0 5.9 10.6 14.6 13.6 20.5 Q325 YTD Q326 YTD Income (£bn) 22 October 2026 Barclays Investment Case Financial highlights 2026 targets 2028 targets RoTE >12% RoTE >14% Capital return Progressive increase vs 20253 Incl. planned £2bn dividend for 2026 Capital return >£15bn (2026-2028)3 With capacity to support investment and growth Income c.£31.5bn Income >5% CAGR (2025-2028) Group NII4 BUK NII >£13.7bn £8.1-8.3bn IB RWAs (% of Group) c.50% Cost: income ratio High-50s% Cost: income ratio Low-50s% Loan Loss Rate (LLR) 50-60bps Through the cycle Loan Loss Rate (LLR) 50-60bps Through the cycle CET1 ratio 13-14% RoTE (%) Profit before tax (£bn) Tangible net asset value per share (p) Shareholder returns Earnings per share (p) Shareholder distributions per share (p) at a glance – Q3 2026 Key information CET1 ratio 14.1% 13.8% 13.6% NII4 13.9% 14.2% 25.0 25.4 26.8 29.1 FY22 FY23 FY24 FY25 22.1 23.9 Q325 YTDQ326 YTD 9.7 11.0 11.3 9.4 10.3 7.0 6.6 8.1 9.1 FY22 FY23 FY24 FY25 7.3 8.4 Q325 YTDQ326 YTD 10.4 9.0 10.5 11.3 FY22 FY23 FY24 FY25 12.3 13.8 Q325 YTDQ326 YTD 295 331 357 409 FY22 FY23 FY24 FY25 392 410 Q325 YTDQ326 YTD 30.8 27.7 36.0 43.8 FY22 FY23 FY24 FY25 35.1 43.0 Q325 YTDQ325 YTD 12.8 14.3% 7.3 8.0 8.4 8.6 6.2 11.4 12.0 17.8 13.4 19.4 20.4 26.4 2022 2023 2024 2025 Dividend5 Share buyback5 Q325 YTD Q326 YTD Q325 YTD Q326 YTD Q325 YTD Q326 YTD Q325 YTD Q326 YTD Q325 YTD Q326 YTD Q325 YTD Q326 YTD £61,230m, $81,215m Market capitalisation1 23% Total shareholder return1 (12m) BARC LN, BCS US Ticker Symbol LSE, NYSE (ADRs) Stock Exchanges £401m ADV | 41% EU2, 31% LSE, 28% NYSE Trading volumes (last 6 months)
Slide 2 — Business segment overview
37% 11% 4% 6% 50% 24% 7% 2% 8% 55% 30% 7% 5% 13% 45% • UK retail banking division, trusted by over 20 million customers1 • Includes Business Banking, serving clients with <£6.5m in annual revenue • Deposit strength supports longer-term income stability, via the structural hedge • UK Corporate Bank offers corporate lending and transaction banking services to clients with annual revenue greater than £6.5m through to FTSE 350 companies • Trusted banking partner to c.13k clients6 with an average client relationship of 19 years6 • Serving clients across the UK wealth continuum and internationally in the wealth corridors between the UK, Europe, Middle East and Asia • Established brand with a full private bank offering, with Client Assets and Liabilities of £234.0bn1 • Leading Global Markets business and Investment Banking franchise, including the International Corporate Bank (FTSE 350 clients and larger) • c.66% of IB revenues from Global Markets business7 • Strong US presence, where we generate c.70% of our Investment Banking fees8 • A leading co-branded credit card issuer and financial services partner to 23 million customers1, with a leading direct-to-consumer loan origination platform in Best Egg and strong online retail deposit offering • #9 US card issuer9 with 20 client partners1 • Prime book with average customer FICO of c.75510; 14% FICO <6601 22 October 2026 Business segment overview Barclays UK (BUK) UK Corporate Bank (UKCB) Private Bank & Wealth Management (PBWM) Investment Bank (IB) US Consumer Bank (USCB) Revenues (FY25)11 Risk weighted assets (FY25)11 FY25 | Q326 YTD FY26 Target BUK UKCB PBWM IB USCB RoTE (%) 20.7 | 20.4 >20 18.9 | 21.6 High-teens 26.3 | 25.4 >25 10.6 | 13.5 c.12 11.0 | 19.912 >1212 Cost: income ratio (%) 56 | 54 Low-50s 51 | 46 High-40s 73 | 75 Mid-70s 62 | 58 c.60 45 | 42 Mid 40s Agency Barclays PLC (Group) Barclays Bank UK PLC Barclays Bank PLC Fitch A / Stable / F1 A+ / Stable / F1 A+ / Stable / F1 Moody’s Baa1 / Stable / P-2 A113 / Stable / P-113 A1 / Stable / P-1 S&P BBB+ / Stable / A-2 A+ / Stable / A-1 A+ / Stable / A-1 Credit ratings1 Investor Relations | Email: [email protected] | Website: home.barclays/investor-relations Profit before tax (FY25)11 CET1 ratio Loan: deposit ratio Average Liquidity Coverage Ratio14 Net Stable Funding Ratio15 14.2% 64% 157% 136% Liquidity metrics1 PBWM IB USCB UKCB BUK PBWM IB USCB UKCB BUK PBWM IB USCB UKCB BUK c.40% of Group income in USD8
Slide 3 — Useful links
Useful links Footnotes 1 As at 30th September 2026 2 Includes all other UK and EU venues 3 FY25 total payout of £3.7bn. At least £10bn from 2024-2026. This multi-year plan, including planned dividend of £2bn for 2026, is subject to supervisory and Board approval, anticipated financial performance and our published CET1 ratio target range of 13-14% 4 Excludes NII from the Investment Bank and Head Office 5 Share buyback announced divided by the number of shares at the end of the quarter in which the buyback was announced. Total shareholder distributions were £0.5bn in Q326 and £2.8bn in Q326 YTD 6 As at 31st August 2026 7 Period defined as 2023 – Q326 YTD 8 Based on an average of FY24, FY25 and H126 income currency mix Important Notice The terms “Barclays” and “Group” refer to Barclays PLC together with its subsidiaries. The information, statements and opinions contained in this presentation do not constitute a public offer, an offer to sell or solicitation of any offer to buy any securities or financial instruments under any applicable legislation and in any jurisdiction, or any advice or recommendation with respect to such securities or other financial instruments. Information relating to: • regulatory capital, leverage, liquidity, resolution and related regimes are based on Barclays' interpretation of applicable rules and regulations as in force and implemented in the UK as at the reporting date, including, but not limited to: the CRR; the PRA Rulebook; and any applicable delegated acts, implementing acts or technical standards; in each case as amended and, where applicable, as such rules and regulations form part of domestic law by virtue of the European Union (Withdrawal) Act 2018. All such regulatory requirements are subject to change and disclosures made by the Group will be subject to any resulting changes. The Pillar 2A requirement is also subject to at least annual review; • MREL is based on Barclays' understanding of the Bank of England’s statement of policy on "The Bank of England's approach to setting a minimum requirement for own funds and eligible liabilities (MREL)" published in July 2025, and its MREL requirements communicated to Barclays by the Bank of England. Binding future MREL requirements remain subject to change, as determined by the Bank of England, taking into account a number of factors as described in the policy, along with international developments; • future regulatory capital, leverage, liquidity, funding and/or MREL, including forward-looking illustrations, are provided for illustrative purposes only and are not forecasts of Barclays’ results of operations or capital position or otherwise. Illustrations regarding the capital flight path, end-state capital evolution and expectations and MREL build are based on certain assumptions applicable at the date of publication only which cannot be assured and are subject to change.” Non-IFRS Performance Measures Barclays’ management believes that the non-IFRS performance measures included in this presentation provide valuable information to the readers of the financial statements as they enable the reader to identify a more consistent basis for comparing the businesses’ performance between financial periods and provide more detail concerning the elements of performance which the managers of these businesses are most directly able to influence or are relevant for an assessment of the Group. They also reflect an important aspect of the way in which operating targets are defined and performance is monitored by Barclays’ management. However, any non-IFRS performance measures in this presentation are not a substitute for IFRS measures and readers should consider the IFRS measures as well. Refer to the appendix of the Barclays PLC Results Announcement for each of the periods ended 31 December 2021, 30 June 2022, 30 September 2022, 31 December 2023, 30 September 2024, 31 December 2025, 31 March 2026, 30 June 2026 and 30 September 2026, and the Group Reporting Changes 2023 Results Resegmentation Document, respectively, which are available at Barclays.com, for further information and calculations of non-IFRS performance measures included throughout this presentation, and the most directly comparable IFRS measures. Forward-looking Statements This document contains certain forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and Section 27A of the US Securities Act of 1933, as amended, with respect to the Group. Barclays cautions readers that no forward-looking statement is a guarantee of future performance and that actual results or other financial condition or performance measures could differ materially from those contained in the forward-looking statements. Forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as ‘may’, ‘will’, ‘seek’, ‘continue’, ‘aim’, ‘anticipate’, ‘target’, ‘projected’, ‘expect’, ‘estimate’, ‘intend’, ‘plan’, ‘goal’, ‘believe’, ‘achieve’ or other words of similar meaning. Forward-looking statements can be made in writing but also may be made verbally by directors, officers and employees of the Group (including during management presentations) in connection with this document. Examples of forward-looking statements include, among others, statements or guidance regarding or relating to the Group’s future financial position, business strategy, income levels, costs, assets and liabilities, impairment charges, provisions, capital leverage and other regulatory ratios, capital distributions (including policy on dividends and share buybacks), return on tangible equity, projected levels of growth in banking and financial markets, industry trends, any commitments and targets (including sustainability-related commitments and targets), plans and objectives for future operations, International Financial Reporting Standards (“IFRS”) and other statements that are not historical or current facts. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. Forward-looking statements speak only as at the date on which they are made. Forward-looking statements may be affected by a number of factors, including, without limitation: changes in legislation, regulations, governmental and regulatory policies, expectations and actions, voluntary codes of practices and the interpretation thereof, changes in IFRS and other accounting standards, including practices with regard to the interpretation and application thereof and emerging and developing sustainability reporting standards (including emissions accounting methodologies); changes in tax laws and practice; the outcome of current and future legal proceedings and regulatory investigations; the Group’s ability along with governments and other stakeholders to measure, manage and mitigate the impacts of climate change effectively or navigate inconsistencies and conflicts in the manner in which climate policy is implemented in the regions where the Group operates, including as a result of the adoption of rules and regulations taking a different or opposing position on sustainability matters, or other forms of governmental and regulatory action against sustainability policies; environmental, social and geopolitical risks and incidents and similar events beyond the Group’s control; financial crime; the impact of competition in the banking and financial services industry; capital, liquidity, leverage and other regulatory rules and requirements applicable to past, current and future periods; UK, US, Eurozone and global macroeconomic and business conditions, including inflation; volatility in credit and capital markets; market related risks such as changes in interest rates and foreign exchange rates; reforms to benchmark interest rates and indices; higher or lower asset valuations; changes in credit ratings of any entity within the Group or any securities issued by it; changes in counterparty risk; changes in consumer behaviour; changes in trade policy, including the imposition of tariffs or other protectionist measures; the direct and indirect consequences of the conflicts in the Middle East and Ukraine on European and global macroeconomic conditions, political stability and financial markets; changes in US legislation and policy; developments in the UK’s relationship with the European Union; the risk of cyberattacks, information or security breaches, technology failures or operational disruptions and any subsequent impact on the Group’s reputation, business or operations; the use of new technology, including artificial intelligence; the Group’s ability to access funding; and the success of acquisitions, disposals, joint ventures and other strategic transactions. A number of these factors are beyond the Group’s control. As a result, the Group’s actual financial position, results, financial and non-financial metrics or performance measures or its ability to meet commitments and targets may differ materially from the statements or guidance set forth in the Group’s forward-looking statements. In setting its targets and outlook for the period 2026-2028, Barclays has made certain assumptions about the macroeconomic environment, including, without limitation, inflation, interest and unemployment rates, the different markets and competitive conditions in which Barclays operates, and its ability to grow certain businesses and achieve costs savings and other structural actions. Additional risks and factors which may impact the Group’s future financial condition and performance are identified in Barclays PLC’s filings with the US Securities and Exchange Commission (“SEC”) (including, without limitation, Barclays PLC’s Annual Report on Form 20-F for the financial year ended 31 December 2025), which are available on the SEC’s website at www.sec.gov. Subject to Barclays PLC's obligations under the applicable laws and regulations of any relevant jurisdiction (including, without limitation, the UK and the US) in relation to disclosure and ongoing information, we undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 22 October 2026 Scan QR code for our digital Q326 results presentation 9 Ranking based on Q226 End Net Receivables reported by peers 10 Based on US Cards open customer accounts as at 30th September 2026 11 Chart labels may not sum to 100% due to exclusion of Head Office 12 Includes the c.£225m gain on sale of the American Airlines portfolio. Excluding this, Q326 YTD USCB RoTE is 13.6%. FY26 USCB target excluding the gain on sale of the American Airlines portfolio is c.12% 13 Deposit rating 14 Trailing average of the last 12 month end LCR ratios 15 Trailing average of the last four quarter end ratios Note: Charts may not sum due to rounding Note: Our targets and guidance are based on management’s current expectations as to the macroeconomic environment and the business and are subject to change Progress and Targets Update Feb 2026 Link Progress Update Feb 2025 Link Private Bank and Wealth Management deep dive Link Investment Banking deep dive Link UK Corporate Bank deep dive Link Investor Update Feb 2024 Link Structural hedge teach in Link Sustainability Investor Presentation Link Fixed Income Investor Presentation Link