Reported about 1 month ago
Barclays has announced an 18% rise in its third-quarter profit, exceeding forecasts, driven by optimistic investment banking prospects and slower-than-expected interest rate cuts. The British bank reported a pretax profit of £2.2 billion for July-September, and upgraded its net interest income outlook for the year to over £11 billion. Barclays' investment banking income also rose, reflecting strong corporate fundraising and deal-making activity. Its shares surged 4%, indicating positive market reception despite challenges in the wider financial sector.
Source: YAHOO