Barclays has revealed its earnings jumped by nearly a fifth in recent months, as the investment banking unit cashed in on an increase in dealmaking amid continued cost-cutting. The bank reported a pre-tax profit of £2.2 billion between July and September, nearly a fifth more than the £1.9 billion made this time last year. This beats forecasts, with analysts previously pencilling in a third-quarter profit of about £2 billion.
Category
🗞
NewsTranscript
00:00Hello, my name is Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post and
00:06here are your headlines for this morning. Barclays has revealed higher than expected
00:10earnings for the third quarter as it generated more income from its investment bank and cut
00:15costs. The bank reported a pre-tax profit of £2.2 billion between July and September,
00:22which is nearly a fifth more than the £1.9 billion made this time last year. This beats
00:28forecasts with most analysts anticipating a third quarter profit of about £2 billion.
00:34Barclays said it generated more income than last year, partly due to a 13% increase in
00:39income from its investment banking division amid higher fees for some services. So that
00:44update this morning from Barclays which has revealed higher than expected earnings over
00:48the third quarter.