Barclays plc - ADR

**Strong Financial Performance**: Barclays reported a profit before tax of £2.2 billion for Q3 2024, an 18% increase from £1.9 billion in Q3 2023. The statutory return on tangible equity (RoTE) reached 12.3% for the quarter and 11.5% year-to-date, exceeding the target of greater than 10% for 2024.

**Upgraded NII Guidance**: The group upgraded its net interest income (NII) guidance for 2024 to over £11 billion, with Barclays U.K. NII expectations raised to approximately £6.5 billion, up from a previous forecast of £6.3 billion. This adjustment comes from stronger deposit trends and the favorable structural hedge in a falling rate environment.

**Cost Management and Efficiency**: Barclays achieved gross efficiency savings of £700 million year-to-date, with a target of £1 billion for the full year. The cost-to-income ratio remained stable at 61%, indicating effective cost control even amidst rising operating costs.