Barclays reports Q3 2026 profit rise, launches £500 million share buyback and announces 5,000 job cuts
Barclays PLC posted a 12% increase in third‑quarter profit before tax to £2.32 billion and a 13% rise in attributable profit to £1.65 billion. The bank confirmed its FY‑2026 total‑income target of about £31.5 billion, announced a £500 million share‑buyback programme and lifted year‑to‑date distributions to £2.8 billion, a 46% increase. It also disclosed a plan to cut 5,000 jobs and expects statutory costs of roughly £18.5 billion in 2026.
Why it matters
Barclays says the buyback and higher payouts return cash to shareholders, while the cost‑reduction drive and job cuts aim to improve profitability and support its target cost‑income ratio in the high 50s for 2026. The guidance on FY‑2026 income and costs provides investors with a clearer view of the bank’s financial outlook.
Key facts
- 1Q3 profit before tax was £2.32 billion, up 12% year‑on‑year. rttnews.com
- 2Attributable profit rose 13% to £1.65 billion. rttnews.com
- 3Basic earnings per share increased 18% to 12.3 pence. rttnews.com
- 4Group total income grew 3% to £7.37 billion. rttnews.com
- 5Barclays announced a share‑buyback tranche of up to £500 million. rttnews.com
- 6Year‑to‑date shareholder distributions reached £2.8 billion, a 46% increase. rttnews.com
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.