Barclays's Solid Results Driven by U.K. Arm -- Market Talk

Dow Jones04-25

0658 GMT - Barclays's revenue and pretax profit for the first quarter were driven by its U.K. division, which had higher revenue and lower impairments, Citi says in a note after the British lender's earnings. The company backed its GBP6.1 billion guidance for the division for 2024, and it now looks like this will be comfortably surpassed, analysts write. They highlight that net interest margin for the division increased 2 basis points to 3.09% from 3.07% in the fourth quarter on a much lower drag from deposits in the quarter. "Overall, a solid set of results, which should be well received," analysts write. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

April 25, 2024 02:58 ET (06:58 GMT)

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They highlight that net interest margin for the division increased 2 basis points to 3.09% from 3.07% in the fourth quarter on a much lower drag from deposits in the quarter. \"Overall, a solid set of results, which should be well received,\" analysts write. 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