Barclays is among the U.Ok.’s largest business and retail banks.
Photograph:
Luke MacGregor/Bloomberg Information
British financial institution Barclays PLC stated Wednesday that its third-quarter revenue rose 10% from a 12 months earlier, reflecting elevated use of shopper bank cards and market volatility that boosted buying and selling income.
Internet revenue rose to £1.5 billion, equal to $1.7 billion, within the three months by September. Analysts had anticipated it to report a revenue of about £1.2 billion, in response to estimates compiled by the London-based financial institution.
Barclays is the most important funding financial institution outdoors the U.S. and the sixth-largest on the planet, in response to Dealogic.
Different huge funding banks have reported weak third-quarter earnings due partially to the slowing international financial system. Excessive inflation, rising rates of interest and slowing financial progress have led many firms to pause plans to buy or merge with different corporations, or to promote shares to the general public. Funding banks present recommendation on such offers, and the slowdown has reduce right into a key supply of their earnings, although unstable markets imply that securities buying and selling companies have held up higher.
Barclays’s well being is tied to the U.S., the place it has a serious credit-card enterprise, and the U.Ok., the place it is among the largest business and retail banks.
Barclays shares in London have fallen almost 20% this 12 months. They have been little modified in early buying and selling Wednesday, edging 0.2% decrease.
Write to Josh Mitchell at joshua.mitchell@wsj.com
Copyright ©2022 Dow Jones & Firm, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
