Barclays is scheduled to release its second-quarter 2023 results on Thursday. Here are the key details:
The U.K. bank is expected to report a pretax profit of £1.91 billion ($2.46 billion) for the three months ending June 30, according to a company-compiled consensus. This reflects a decrease in litigation and conduct expenses compared to the same period last year, when it recorded a pretax profit of £1.50 billion.
Barclays' total income for the quarter is projected to be £6.53 billion, based on the same consensus. This compares to £6.71 billion in the equivalent three-month period in 2022.
What to Watch For
- Impairments: Analysts estimate a credit impairment charge of £597 million for the quarter.
- CET 1 Ratio: The bank is expected to finish the period with a common equity Tier 1 ratio of 13.8%, which is a crucial measure of balance-sheet strength.
- Interim Dividend: The board is anticipated to announce a dividend payout of 2.7 pence per share, an increase from 2.25 pence in the previous year.
- Share Buyback: Consensus suggests a buyback of £575 million, although analysts at Jefferies believe there is potential for a larger program surprise from management.
- Guidance: Deutsche Bank believes there will be minimal changes to the guidance issued by the lender in February for the year 2023.