British bank Barclays posts 2024 pretax profit hike, launches £1 billion share buyback

Published On Feb 13, 2025, 2:24 AM

Barclays reported a strong performance in its Q4 2024 earnings, with full-year pre-tax profits increasing by 24% to £8.108 billion, slightly surpassing analyst expectations. The bank also announced a £1 billion share buyback. While net profits for the year increased by 24% to £5.316 billion, they fell short of analyst predictions. Barclays has been focusing on strategic changes aimed at cutting costs, increasing shareholder returns, and expanding its retail banking presence, especially following HSBC's exit from certain markets.