Although Barclays missed out in a reported bidding battle for Evelyn Partners, overall group results improved. In the private bank and wealth management division, profits softened a touch last year from a year before.

Yesterday, the private bank and wealth management arm of Barclays reported a pre-tax profit of £375 million ($512.7 million) in 2025, down 2 per cent on a year earlier. In the fourth quarter of last year, the figure was £50 million, a 42 per cent year-on-year fall, the UK-listed banking group said.

On an attributable basis, profit in the wealth and private bank was £291 million, up from £288 million in 2024.

Total income rose 5 per cent year-on-year to £1.38 billion; total operating costs rose 10 per cent to £1.013 billion.

Net fee, commission and other income rose 7 per cent to £581 million. 

The cost/income ratio of this division widened to 73 per cent from 70 per cent at the end of 2024; return on average allocated tangible equity dropped to 26.3 per cent from 28.1 per cent. 

Net new assets under management were £3.3 billion in 2025, down from £3.7 billion a year before; total AuM rose to £52.9 billion from £47.7 billion. Total client assets and liabilities rose to £227.6 billion from £208.9 billion.

Group results

For the entire group, pre-tax profit in 2025 was £9.139 billion, rising 13 per cent year-on-year; in Q4 2025, it rose 12 per cent to £1.859 billion. Various reports said the results beat expectations, aiding the bank's shares. On an attributable basis, full-year profit rose 16 per cent to £6.175 billion. Return on average tangible shareholders’ equity rose to 11.3 per cent from 10.5 per cent, and the cost/income ratio contracted to 61 per cent from 62 per cent. 

Barclays said its Common Equity Tier 1 ratio – a standard international measure of a bank’s shock absorber capital – was 14.3 per cent, rising from 13.6 per cent at the end of 2024.

The bank said it intended to return more than £15 billion of capital to shareholders between 2026 and 2028 through dividends and share buybacks, which it said provided leeway for investment and growth. It also aims for a cost/income ratio in the low 50s in percentage terms for 2028. It is targeting a return on tangible equity of more than 14 per cent for that year.

As reported last year, Barclays was one of the major UK banks that was bidding for UK wealth manager Evelyn Partners. This week, NatWest Group announced that it had bought the group. (See an analysis here.)