All eyes will be on
Barclays will report its full-year results on Tuesday, followed by
The biggest lenders in the
However, the final quarter of 2023 is expected to show more pressure on banks' NIMs as
Big Four bank Natwest reported earnings on Friday, notching its highest annual profits since before the financial crisis. Operating profit came in at £6.2bn for 2023, up 20 per cent on 2022. Its net interest margin (NIM) surged 19 basis points to 3.04 per cent higher than 2022.
Analyst expect Barclays to be the only Big Four lender not to see a rise in annual profits due to a £825m restructuring charge tied to an overhaul at the bank. Investors are awaiting more details on the restructuring, which involved 5,000 job cuts last year, from a four-and-a-half-hour presentation from chief executive CS Venkatakrishnan after the results.
Meanwhile,
(c) 2024 City A.M., source