Barclays announced on February 20th that it will achieve a tangible return on equity of 9% in 2023. To achieve its new goal of increasing the return rate to over 12% in the coming years, Barclays has stated that it will reduce costs by £ 2 billion by 2026.
Barclays announced plans to return £ 10 billion in capital to shareholders during this period. The company will also be restructured into five new operational departments: UK Retail Bank, UK Corporate Bank, Private Banking and Wealth Management, Investment Banking, and US Consumer Bank.