• last year
Barclays has reported lower profits for the start of the year, as mortgage lending and deposits dipped and its investment bank was squeezed amid prevailing economic uncertainty.
Transcript
00:00 Hello, my name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.
00:05 Here are your business headlines this morning.
00:08 Barclays has reported lower profits for the start of the year, as mortgage lending and
00:13 deposits dipped and its investment bank was squeezed.
00:17 The high street banking giant reported a group pre-tax profit of £2.3 billion the first
00:23 three months of the year, down 12% from the £2.6 billion reported this time last year.
00:29 However, the latest quarterly earnings figures came in above analysts' expectations of
00:36 £2.2 billion.
00:39 Barclays also revealed that income from its investment bank fell by 7% year on year, as
00:44 a strong performance in the equities division was more than offset by lower activity in
00:49 areas such as fixed income trading.
00:51 It's an update from Barclays which has reported lower profits for the start of the year.
00:57 My name's Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.

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