Barclays raised its 2026 income goal to £31.5 billion and announced £2.3 billion in shareholder returns after strong second-quarter earnings.
Barclays posted a 30% rise in second-quarter profit before tax to £3.3 billion, driven by income growth to £8.3 billion and a 16.1% return on tangible equity. Earnings per share climbed 43% to £0.167, supported by higher attributable profit and share buybacks.
The bank increased its 2026 income target to approximately £31.5 billion and announced £1 billion in share buybacks alongside an £800 million interim dividend. First-half distributions totaled £2.3 billion, while its pro forma CET1 ratio reached 14%, near the top of its target range.
Barclays accelerated cost-cutting efforts, delivering £350 million in first-half savings and planning up to £500 million in additional structural actions. U.K. businesses outperformed with returns above 20%, offsetting pressure in the U.S. Consumer Bank.