Barclays profits rise 34% on bumper trading revenues

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Barclays’s profits increased by a third in the second quarter thanks to the results of the bumper from its commercial business, as the lender scored the midway point for a three -year plan to renew its operations and reduce dependence on the investment bank.

The British lender said that net profits were 1.7 billion pounds in the three months to June, an increase of 34 percent from 1.2 billion pounds in the same period last year and before the expectations of analysts of 1.5 billion pounds. The bank’s revenues increased by 14 percent in the second quarter and a few billion pounds before 7.2 billion pounds.

The fixed trading offices of income and shares in Barclays brought 1.45 billion pounds and 870 million pounds in a row, which represents the revenues of more than two -thirds of the investment bank of 3.3 billion pounds.

Wall Street traders have gained gains from the fluctuations launched by US president Donald Trump’s policies, which helped compensate for the period of work in the field of deals and companies ’lists.

Barclays, in the middle of the transformation that will be pledged to provide 10 billion pounds for shareholders by the end of 2026.

CEO CS Venkatakrishnan sought to reduce the lender dependence on investment banking services, which lasted a large part of the weighted assets of risk, and re -focus in the UK market.

On Tuesday, the bank announced the re -purchase of new one billion pounds, which led to a total distribution of shareholders in the first half of the year to 1.4 billion pounds.

Vinkatarakrichnan said he was “very pleased” to the general performance of the Investment Bank, but he admitted that the works that generate fees, which include the consultative work of the deal, had left American competitors.

Banking and revenues fell from the subscription from analysts’ expectations, with a 16 percent decrease from the same quarter last year.

The income from consulting work decreased by 11 percent and decreased by a third in the share capital market unit, which improved Barclays’s ambitions to improve the returns in the investment bank by focusing on these two companies.

The slowdown in profitable lending led to an income from the debt capital market by 13 percent.

Barclays achieved mixed results in its work in the United Kingdom, as shy revenues of expectations were at 2.1 billion pounds, but by 12 percent of the same period last year. While customer deposits fell slightly, the bank’s net interest revenues increased by 16 percent, the structural hedging program helped to compensate for the impact of low rates.

“Generally a strong set of results”, Citigroup Andrep Compasses, called it a strong set of results, “thanks to the share of the Barclays winning market in stocks and fixed income, but he said that companies in the UK were” more mixed. “

The shares in Barclays were widely flat in early trading on Tuesday.