Barclays reports rise in profits

Barclays Bank. Pic: Joe Giddens/PA Wire
Barclays Bank. Pic: Joe Giddens/PA Wire
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Barclays has reported a rise in third-quarter pre-tax profits from £1.1bn to £1.46bn.

Income at the bank’s markets division rose 12 per cent to £3.95bn.

Macro income, which comprises fixed income, currencies and commodities, rose 1 per cent to £2.29bn.

Net operating income came in at £4.87bn in the quarter, versus £4.65bn in the same period last year.

Chief executive James Staley said: “I am pleased to report another quarter which demonstrates that we are firmly on track to produce improved returns for shareholders as our strategy continues to deliver.

“During the third quarter our corporate and investment bank outperformed peers again in markets, with a 19 per cent increase in income, and, in banking, while we saw a dip in income, we have seen strong completion activity in October.”