Barclays reported first-quarter 2025 results that exceeded analyst expectations, with a pretax profit of £2.72 billion, surpassing the estimated £2.51 billion, and group revenues of £7.71 billion, ahead of the projected £7.33 billion. Net interest income was £3.528 billion, above the expected £3.388 billion. Equities revenue was £963 million, the best quarter for the division since 2022. Barclays shares are up 10% year-to-date. Barclays raised its guidance for group net interest income in 2025 to over £12.5 billion and reaffirmed its return on tangible equity target at about 11%. The return on tangible equity reached 14% in the first quarter, up from 7.5% in the previous quarter. The bank's U.S. consumer bank delivered a 9.1% return on tangible equity in 2024. Barclays cited market volatility and its sizable U.S. exposure as key factors influencing results, while noting that prolonged economic uncertainty could slow activity. In contrast, Lloyds Banking Group reported a 7% decline in first-quarter profit, with net income of £1.134 billion and statutory pretax profit of £1.52 billion, slightly below estimates. Lloyds set aside $133 million (approximately £100 million) in provisions for potential tariff impacts and reaffirmed its 2025 guidance. The bank's CET1 ratio was 13.5%, and customer deposits reached £487.7 billion. Lloyds attributed the profit decline to higher provisions, particularly related to tariffs and economic caution. ArcelorMittal reported first-quarter core profit above expectations, with EBITDA of $1.58 billion, and noted strong results in Liberia. CEO Aditya Mittal expressed caution about the short-term outlook, citing trade uncertainty as a risk to business confidence and economic growth. Santander announced plans for 95 branch closures in the UK as part of a broader restructuring.