Barclays plc announced on Thursday that its total income in the first quarter of fiscal 2024 amounted to £7 billion, dipping 4% on an annual level.
In the three months ending March 31, attributable profit slumped 13% compared to the same period in 2023, to land at £1.6 billion. Total operating expenses came in at £4.2 billion, slightly higher than £4.1 billion registered in the same three-month period a year ago, while the return on average tangible shareholders' equity was at 12.3%.
"We are focused on disciplined execution of the plan that we presented at our Investor Update on 20th February. We have now announced the sale of our performing Italian mortgage book and are investing in our higher returning UK consumer businesses, including through the expected completion of the Tesco Bank acquisition in Q424," CEO C. S. Venkatakrishnan said.