Barclays headquarters in London, England.
Justin Solomon | CNBC
Barclays Wall Street rivals reported higher-than-expected third-quarter profits on Thursday after receiving significant backing from the investment banking sector.
British banks reported an imputed profit of £ 1.45 billion in the third quarter. Analysts expect a net profit of £ 931.25m, according to Refinitiv data, showing a significant increase from £ 611m reported during the same period last year. increase.
“CIB [Corporate and Investment Bank] Performance remains the Group’s strength, with evidence of a consumer recovery and early signs of a more favorable interest rate environment, “said CEO Jess Staley in a statement.
- The Tier 1 capital (CET1) ratio of common stock was 15.4%, compared to 14.6% at the end of the third quarter of 2020 and 15.1% in the previous quarter.
- Group revenues reached £ 5.5 billion, up from £ 5.2 billion in the year-ago quarter.
Barclays Wall Street rivals Goldman Sachs, Wells Fargo, Citigroup, Bank of America, Morgan Stanley and JP Morgan all outperformed their earnings forecasts this quarter due to the strength of investment banks last week. rice field.
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Barclays profits are boosted by trading following Wall Street leads
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