Barclays PLC (BUE:BCS)

ARS 11920.5 -74 (-0.62%) Market Cap: 35.52 Til Enterprise Value: -111.49 Til PE Ratio: 8.07 PB Ratio: 0.45 GF Score: 45/100

Half Year 2020 Barclays PLC Fixed Income Analysts and Investors Earnings Call Transcript

Jul 29, 2020 / 02:00PM GMT

Release Date Price: ARS641 (-4.33%)

Transcript

Operator

Welcome to the Barclays Half Year 2020 Results Fixed Income Conference Call. I will now hand you over to Tushar Morzaria, Group Finance Director.

Tushar Morzaria

Barclays PLC - Group Finance Director & Executive Director

Good afternoon, everyone, and welcome to the fixed income investor call for our half year 2020 results. I'm joined today by Kathryn, our Group Treasurer; and Miray, our Head of Term Funding. Let me start with Slide 3 and make a few brief comments before handing over to Kathryn.

As I mentioned this morning, the results of the first half show the benefit of our diversified business model. Profits for the first half were down on last year, reflecting material increase of GBP 2.8 billion in the impairment charge to GBP 3.7 billion. The growth of 8% in income as the CIB delivered a strong performance and a decrease of 4% in costs resulted in a profitable half and an RoTE of 2.9%.

Given the uncertainty around the economic outlook and the low interest rate environment, we do expect the second half of the year to remain

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