The UK-headquartered lender reported a broadly positive set of financial numbers for the first quarter of 2025, with its private bank and wealth arm among the stronger performers.

Barclays Private Bank and Wealth Management, part of UK-listed Barclays, yesterday reported pre-tax profit in the first three months of 2025 of £122 million ($162.8 million), up 28 per cent from a year earlier.

Net interest income rose 17 per cent at this part of the bank to £204 million; net fee, commission and other income rose by 6 per cent. Operating costs widened to £234 million from £214 million. 

On an attributable basis, profit rose 30 per cent to £96 million, the bank said in a statement.

Net new assets under management were £1 billion in Q1 2025, up from £200 million a year before; total invested assets stood at £124.4 billion, from £113.2 billion a year before.

Group results
Across all divisions, Barclay said group income rose 11 per cent year-on-year to £7.7 billion. Attributable profit was £1.864 billion, rising 20 per cent. The bank had a Common Equity Tier 1 ratio of 13.9 per cent at the end of March.

Shares in Barclays ended up 0.23 per cent on the day yesterday. 

In its forward guidance, Barclays said it was targeting returns on tangible equity of about 11 per cent in 2025, moving to more than 12 per cent in the following year. It intends a progressive rise in total capital returns in 2025 from a year ago. It also intends to return at least £10 billion to shareholders between 2024 and 2026, via dividends and share buybacks. It is seeking group income of around £20 billion in 2026.