Q1 2024 Barclays PLC Earnings Call Transcript

Apr 25, 2024 / 08:30AM GMT

Release Date Price: MXN167.5

Transcript

Operator

Welcome to Barclays Q1 2024 Results Analyst and Investor Conference Call.

I will now hand over to C.S. Venkatakrishnan, Group Chief Executive, before I hand over to Anna Cross, Group Finance Director.

Coimbatore Sundararajan Venkatakrishnan

Barclays PLC - Group CEO & Executive Director

Good morning. Thank you for joining us on today's results call for the first quarter of 2024. At our investor update, a little over 9 weeks ago, we set out a 3-year plan to deliver a better run, more strongly performing and higher-returning Barclays. To do so, we aim to make Barclays a simpler, better and more balanced bank. We are executing in a disciplined way against this plan, and this is our first progress report against our longer journey.

I am happy with our overall Q1 performance, which keeps pace with our financial targets for 2024 to 2026. These are: First, grow returns with a target RoTE of above 12% in 2026; second, to rebalance the bank with a target to reduce RWAs in the Investment Bank from 58% of group RWAs to around 50% in 2026; and third,

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