LONDON — Barclays on Wednesday reported an surprising rise in third-quarter earnings on the again of sturdy buying and selling revenues, regardless of a continued drag from a expensive U.S. buying and selling error.
The British lender posted a web revenue attributable to shareholders of £1.512 billion ($1.73 billion), above consensus analyst expectations of £1.152 billion and marking a rise from a restated £1.374 billion for a similar interval final 12 months.
“We delivered another quarter of strong returns, and achieved income growth in each of our three businesses, with a 17% increase in Group income to £6.4 billion,” Barclays CEO C.S. Venkatakrishnan stated in an announcement.
“Our performance in FICC (fixed income, currencies and commodities trading) was particularly strong and we continued to build momentum in our consumer businesses in the U.K. and U.S.”
- Frequent fairness tier one capital (CET1) ratio was 13.8%, in comparison with 15.4% on the finish of the third quarter of 2021 and 13.6% within the earlier quarter.
- Group revenue hit £6 billion, up from £5.5 billion for a similar interval final 12 months.
- Return on tangible fairness (RoTE) was 12.5%, in comparison with 11.4% within the third quarter of 2021.
Barclays shares will start Wednesday’s buying and selling session down nearly 20% on the 12 months.
