Barclays reports annual profit rise of 12%, announces new targets

LONDON, Feb 10 (Reuters) - Barclays said its annual profit increased 12% on Tuesday, as it announced a share buyback of 1 billion pounds ($1.37 billion) and new performance targets.

The British bank reported profit before tax for 2025 of 9.1 billion pounds, up from 8.1 billion pounds the year before and broadly in line with than the 9 billion pounds average of analysts' forecasts as compiled by the bank.

Barclays also lifted its key profit target, saying it now expects to make a return on tangible equity of greater than 14% by 2028, up from previous guidance of greater than 12% in 2026.

($1 = 0.7317 pounds)