April 29, 2020 / 6:05 AM / a month ago

BRIEF-Barclays Board Will Decide On Future Dividends At Year-End 2020

April 29 (Reuters) - Barclays PLC:

* DESPITE ALL CHALLENGES WE FACE AS A CONSEQUENCE OF COVID-19, I AM CONFIDENT BARCLAYS WILL EMERGE FROM THIS PANDEMIC, WELL PLACED TO CONTINUE TO SERVE OUR CUSTOMERS AND CLIENTS, COMMUNITIES AND ECONOMIES IN WHICH WE OPERATE, AND OUR SHAREHOLDERS.”

* BOARD WILL DECIDE ON FUTURE DIVIDENDS AND ITS CAPITAL RETURNS POLICY AT YEAR-END 2020

* OPERATING EXPENSES WERE STABLE AT £3,253M (Q119: £3,257M)

* BARCLAYS UK INCOME DECREASED 4% DUE TO ONGOING MARGIN PRESSURE

* RWAS INCREASED BY £30.5BN TO £325.6BN PRIMARILY DRIVEN BY AN INCREASE IN CLIENT ACTIVITY WITHIN CIB (INCLUDING DRAWDOWNS ON FACILITIES) AND HIGHER MARKET VOLATILITY AS WELL AS APPRECIATION OF PERIOD END USD AGAINST GBP

* TOTAL ASSETS INCREASED TO £1,444BN

* IMPAIRMENT CHARGE INCLUDES £405M IN RESPECT OF SINGLE NAME WHOLESALE LOAN CHARGES IN THE QUARTER AND £1.2BN NET IMPACT FROM A REVISED BASELINE SCENARIO (‘COVID-19 SCENARIO’)

* GIVEN UNCERTAINTY AROUND DEVELOPING ECONOMIC DOWNTURN AND LOW INTEREST RATE ENVIRONMENT, 2020 IS EXPECTED TO BE CHALLENGING. HOWEVER, GROUP BELIEVES THAT A ROTE OF GREATER THAN 10% REMAINS RIGHT TARGET FOR GROUP OVER TIME

* THE COVID-19 SCENARIO ALSO INCLUDES A SPECIFIC CHARGE OF £300M TO REFLECT THE PROBABILITY OF A SUSTAINED PERIOD OF LOW OIL PRICES Source text for Eikon: Further company coverage: (Reporting by Lawrence White)

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