Barclays earnings Q3 2002

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 internet 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 one other quarter of sturdy returns, and achieved earnings development in every of our three companies, with a 17% enhance in Group earnings to £6.4 billion,” Barclays CEO C.S. Venkatakrishnan stated in a press release.

“Our efficiency in FICC (mounted earnings, currencies and commodities buying and selling) was notably sturdy and we continued to construct momentum in our client companies within the U.Ok. and U.S.”

• Widespread 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 earnings 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.