Q1 2023 Barclays PLC Earnings Call Transcript
Welcome to Barclays Q1 2023 Results Analyst and Investor Conference Call. I will now hand you over to C.S. Venkatakrishnan, Group Chief Executive; and Anna Cross, Group Finance Director.
Good morning. Thank you for joining us on today's call. Let me start by saying how pleased I am with our first quarter's performance for 2023. This was a record quarter of profitability for the bank. We generated 11.3p of earnings per share, which is well above the 8.4p of EPS in the first quarter of 2022. And our profit before tax of GBP 2.6 billion for this quarter is up 16% year-on-year.
We grew income by 11% or GBP 741 million year-on-year to GBP 7.2 billion. This has demonstrated the broad-based and high-quality sources of income which we have across the group's businesses. Supporting this income momentum, we maintained our focus on costs and our disciplined approach to investment, resulting in a cost: income ratio of 57%. We have delivered a 15% return on tangible equity,
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