September 16, 2023, US, New York: the Barclays Bank logo, taken in Manhattan.
Michael Kappeler | Photo Alliance | Getty images
British bank Barclays On Wednesday it reported small beats on the upper and bottom line in the first quarter, stimulated by stronger investment bank performance.
The profit before tax amounted to £ 2.7 billion ($ 3.6 billion), an increase of 11% on an annual basis and before the analyst expectations of £ 2.49 billion, according to LSEG. Group Reves hit £ 7.7 billion, above an analyst projection of £ 7.33 billion.
Income from investment banking, the most profitable division, rose by 16% to £ 3.87 billion.
The return of Barclays on tangible shares, a measure of profitability, rear litual 14 % in the first quarter, after an average of 7.5 % in the quarter of December.
The key to investors is how Barclays navigates, the considerable American exposure in the market storm is unleashed by the worldwide trading rates of US President Donald Trump. Note, Barclays has had a considerable witness since the acquisition of the investment banking and capital markets from collapsed Wall Street Titan Lehman Brothers for $ 1.75 billion.
On Wednesday, Barclays CS Venkatakrishnan said with CNBC’s “Squawk Box Europe,” said Barclays CEO that he expected “fairly high market volatility” in the future.
“It is quieter now, but I imagine that things will continue to go up and down. Furthermore, while you go in our results, that market volatility helps us to help customers manage their risk, we can do this in a profitable way that Huat also helps and the markets for markets helps in the risk.”
Venkatakrishnan continued: “I think, the longer this goes, the greater economic uncertainty there is, what companies make to make decisions. People also make to make decisions, you could have a risk of a delay in economic activity.”
“Although we have a good starting point, we must be prepared” on a series of scenarians, he told TOB to CNBC, including economic weakness in his most important markets of the UK and the US.
The American consumer bankass of the British lender has taken steps, which in 2024 reduced a return of 9.1% on tangible equity, of 4.1% in 2023. Income to the unit set 1% higher to £ 864 million in the first quarter, although benefited before the burden of 7% to £ 55 million.
Barclays shares took a steep tumb when the White House started its traditional war on 2 April, but Esreegter housed and so far captured 10% – in a sharp form of Swiss Giat UBSWoe us dirty and domestic worries have led to a bleeding of the stock value.
Barclays’ Core UK Consumer Bank unit recorded 12% higher income of £ 484 million and 23% higher profit before taxes of £ 207 million, supported by the acquisition of Tesco Bank.
Great -Britain could receive a rare economic blessing as a result of its divorce from the European Union, after the block was hit by 20% in – now briefly suspended – American mutual rates at the beginning of April. London, which is only confronted in such taxes in the White House, is now trying to use its historical transatlantic relationship and a broad more balanced trade record with the US to achieve a sweeter commercial arrangement. However, it is expected that broader in world trade and the growth of the economy will be weighed.
The pressure of Barclays at home has since been relaxed, with colossus HSBC The announcement of plans to settle its mergers and acquisitions and share capital markets in the UK, the US and Europe in the midst of a makeover of its investment activities. And the British unit of the Spanish lender Banco Santander – who has in recent weeks through the market capitalization of Continental UBS introducing to become the larganest bank in Europe – said in March that 750 of its employees were at risk, because it focuses on 95 branch closures as part of a wider footprint from June 205.
While Santander says that the UK remains a ‘core market’, the newest step has added to questions whether the Spanish tape is planning to leave British Hoofdstraat.
