Barclays UK’s mortgage loans and advances stood at £163bn within the first quarter of the 12 months, consistent with prior quarter figures.
According to Barclays UK’s latest financial results, that is barely down on the £166bn reported within the first quarter of final 12 months.
The determine nonetheless represents nearly all of its loans and advances, which got here to £200.8bn within the first quarter, and include business banking, Barclaycard and private loans. These fell 1% year-on-year as a consequence of “subdued mortgage lending and lower market demand”.
Another issue cited was “continued repayment of government scheme lending in business banking”.
Barclays UK’s revenue earlier than tax for the primary quarter got here to £705m, which is 6% down on the identical interval final 12 months.
The agency additionally reported a credit score impairment cost of £58m, which compares to £113m in Q1 final 12 months.
Barclays UK stated that this was “consistent with low delinquencies in UK cards, high quality mortgage lending portfolio and the improved macroeconomic outlook”.
C.S. Venkatakrishnan, Barclays group chief government, stated: “In Q124, Barclays delivered a return on tangible fairness [RoTE] of 12.3% as we progress in the direction of our targets of >10% RoTE in 2024, and >12% in 2026.
“We are targeted on disciplined execution of the plan that we introduced at our Investor Update on twentieth February. We have now introduced the sale of our performing Italian mortgage e book and are investing in our higher-returning UK shopper businesses, together with via the anticipated completion of the Tesco Bank acquisition in Q424.
“We continue to exercise cost discipline and remain well-capitalised with a Common Equity Tier 1 [CET1] ratio at the end of the quarter of 13.5%.”
Anna is presently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has labored as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She began her profession as a report at specialist publication The Insurance Insider masking a variety of areas earlier than becoming a member of Mortgage Solutions and Specialist Lending Solutions in 2021.
In her position, she helps put collectively and construction the information agenda for the day and writes up press releases, stories, interviews, analyses and exclusives throughout each titles. She additionally commissions blogs for Specialist Lending Solutions and hosts on-line masterclasses and in-person occasions throughout the business.
She has been shortlisted for 3 journalism awards, which embody BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna labored in ecommerce throughout Snow + Rock, Cycle Surgery and Runners Need web sites, and earlier than that labored at specialist monetary PR agency Rostrum.
In her spare time, Anna enjoys studying, seeing stay music, and cooking for family and friends. When she will get an opportunity, she additionally enjoys mountain climbing, snowboarding and indoor mountain climbing.
