April 26, 2018 / 6:06 AM / 6 months ago

BRIEF-Barclays CEO hails "significant quarter" for UK lender

April 26 (Reuters) - Barclays PLC:

* CEO SAYS THIS HAS BEEN A SIGNIFICANT QUARTER FOR BARCLAYS, ONE IN WHICH WE HAVE SHOWN THAT OUR NEW OPERATING MODEL AND OUR PORTFOLIO OF DIVERSIFIED, PROFITABLE BUSINESSES ARE CAPABLE OF PRODUCING IMPROVED RETURNS FOR SHAREHOLDERS

* CEO SAYS DEMONSTRATING BENEFITS OF DIVERSIFICATION, LOWER REVENUES IN OUR UK BUSINESSES, DRIVEN BY ONE-OFFS, WERE OFFSET BY A STRONGER PERFORMANCE IN BARCLAYS INTERNATIONAL, PARTICULARLY IN CORPORATE AND INVESTMENT BANK

* CEO SAYS Q1 IS TYPICALLY A STRONG ONE OF COURSE, BUT THIS PERFORMANCE DOES INCREASE CONFIDENCE IN OUR CAPACITY TO MEET OUR GROUP ROTE TARGETS

* NET INTEREST MARGIN DECREASED 42BPS TO 3.27% REFLECTING INTEGRATION OF EDUCATION, SOCIAL HOUSING AND LOCAL AUTHORITY (ESHLA) PORTFOLIO

* CREDIT IMPAIRMENT CHARGES INCREASED 13% TO £201M DRIVEN BY INCREASED IMPAIRMENT IN PERSONAL BANKING AND A SINGLE NAME CASE IN WEBB

* CEO SAYS WE LOOK FORWARD TO RETURNING AN INCREASING AMOUNT OF CAPITAL TO SHAREHOLDERS, BOTH THROUGH ANNUAL DIVIDEND, AND VIA OTHER MEANS OF RETURN, SUCH AS BUYBACKS, GOING FORWARD

* ADDITIONAL CHARGES OF £400M (Q117: £NIL) RELATING TO PPI WERE RECOGNISED MAINLY AS A RESULT OF CONTINUED HIGHER COMPLAINTS FLOW IN Q118

* RWAS INCREASED TO £214.2BN (DECEMBER 2017: £210.3BN) DUE TO INCREASED TRADING ACTIVITY

* AVERAGE UK LEVERAGE RATIO DECREASED TO 4.6% (DECEMBER 2017: 4.9%) PRIMARILY DRIVEN BY INCREASED EXPOSURES DUE TO SECURITIES FINANCING TRANSACTIONS AND TRADING PORTFOLIO ASSETS TRADING ACTIVITY, AS WELL AS DECREASE IN CAPITAL Source text for Eikon: Further company coverage: (Reporting By Sinead Cruise)

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