From CNBC:

Barclays reported a fourth-quarter net loss of £111 million, missing analyst expectations for a profit of £60.95 million. Full-year net profit came to £4.27 billion, down from £5.023 billion in 2022. The bank announced an additional share buyback of £1 billion and a new three-year plan to improve financial performance. Structural cost-cutting measures led to a £900 million hit in the fourth quarter, with expected gross cost savings of £500 million this year. Momentum in the corporate and investment bank waned in 2023, prompting a huge operational overhaul, including substantial cost cuts, asset sales, and a reorganization of business divisions. Barclays is targeting total gross cost savings of £2 billion and an RoTE of greater than 12% by 2026.



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