Barclays Sees Retail Bank Making 13%-15% Avg Return On Equity

30th Jun 2010 11:14

By Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Barclays PLC (BCS) said Wednesday that it expects its global retail banking operations to deliver an average return on equity in the period 2010 through 2013 of 13% to 15%. In a statement, the U.K. bank also said it is targeting the division to post a 5% growth in income a year in that period, report broadly stable net interest margins and control costs. "These targets, which are subject to current macro-economic planning assumptions, are designed to deliver strong compound annual profit growth over the period 2010 to 2013 for the division in aggregate," it said. Barclays recently restructured its divisions, and its global retail banking operations now comprise of retail banking in the U.K., Western Europe and Africa, in addition to Barclaycard. -By Patricia Kowsmann, Dow Jones Newswires. Tel +44(0)207-842-9295, [email protected] (END) Dow Jones Newswires June 30, 2010 06:14 ET (10:14 GMT)