British banking major Barclays plc (BARC.L, BCS) reported Thursday that its fourth-quarter profit before tax climbed to 1.10 billion pounds from last year's 374 million pounds.
Attributable profit was 681 million pounds, compared to a loss of 14 million pounds a year ago. Basic earnings per share were 3.9 pence, compared to loss of 0.1 pence last year.
Excluding litigation and conduct, profit before tax was 1.26 billion pounds, compared to 434 million pounds a year ago. Adjusted earnings per share were 4.7 pence, compared to prior year's 0.3 pence.
Total income grew to 5.30 billion pounds from 5.07 billion pounds last year. Net interest income increased to 2.34 billion pounds from prior year's 2.30 billion pounds.
Further, the company has declared a full year dividend of 6.0p per share. This results in total dividend of 9 pence per share, up from 6.5p in 2018, and three times that of 2017.
Looking ahead, the company said it continues to target >10% RoTE. However, given global macroeconomic uncertainty and the current low interest rate environment, it has become more challenging to achieve this in 2020. Notwithstanding these headwinds, the company believes it can achieve a meaningful improvement in returns in 2020.