...February 21, 2024 LONDON (S&P Global Ratings) Feb. 21, 2024--S&P Global Ratings said today that Barclays' strategic update represents an evolution and rebalancing of the bank, rather than a fundamental change in direction. We believe that the new measures, announced alongside the bank's full-year 2023 results, will intensify its focus on its U.K. heartland to strengthen profitability--and shareholder returns--in the next three years. The capital, funding, and liquidity targets are unchanged and continue to underpin our ratings on Barclays. Barclays' updated strategic priorities focus on three key targets: - Widening its return on tangible equity (RoTE) to more than 12% by 2026; - Paying out a total of ú10 billion to shareholders between 2024 and 2026; and - Reducing the contribution of investment bank risk-weighted assets (RWAs) as a percentage of the group total to around 50%, from 63% currently, by holding the investment bank's absolute RWAs steady as other divisions expand. Barclays...
