Barclays reports third-quarter pre-tax profit of £2.3bn
Profit rose 12% year on year, while investment-bank income fell short of forecasts and the bank recorded £201m in structural cost actions.
Barclays reported pre-tax profit of £2.3bn for the three months to the end of September, up 12% year on year. Investment-bank income was £3.1bn, below the £3.3bn forecast cited in the company’s results coverage; equities income rose 47% while fixed-income income fell 19%.
Barclays’ reported third-quarter profit and trading figures.
Profit and divisional income
Barclays reported pre-tax profit of £2.3bn for the three months to the end of September, a 12% increase year on year. The result narrowly missed the £2.4bn consensus forecast cited in the reporting.
Income at the investment bank was £3.1bn, below a forecast of £3.3bn. The division’s income increased 1% from the same period a year earlier. Income at the UK retail banking division rose 5% to £1.8bn. The reporting also said income increased at the UK corporate bank and wealth management arm.
Trading and cost actions
Within the investment bank, equities income rose 47% year on year to £1bn, while fixed-income income declined 19% to just over £1bn.
Barclays recorded £201m in Structural Cost Actions during the quarter, compared with £93m in the corresponding period. A further £300m of actions was earmarked for the fourth quarter. Chief executive CS Venkatakrishnan said the bank had either achieved or was on track to achieve its 2026 group targets and remained committed to its 2028 targets.
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Further reading
Selected background resources to explain the context and concepts behind this story.
Define the specific business segments and geographic classifications used in Barclays' financial reporting.
Glossary of terms
This official glossary from Barclays provides precise definitions for terms like 'Investment Banking' and 'United Kingdom (UK)' as used in their results, helping readers understand the specific context of the reported income figures.
Understand the regulatory framework and reporting standards for investment banking activities in the UK.
090 - Stress Test Data Framework Manual
The Bank of England's Stress Test Data Framework Manual offers authoritative documentation on how investment banking segments are structured and reported, providing essential context for interpreting the bank's performance metrics.
Learn the standard methodologies for estimating corporate tax gaps and analyzing pre-tax profit.
Corporate Income Tax Gap Estimation Methodologies - European ...
This European Commission report details the technical approaches used to measure pre-tax profit and tax liabilities, offering a deeper understanding of the financial indicators mentioned in the news article.
Explore academic perspectives on measuring taxes on income from capital and pre-tax profit.
MEASURING TAXES ON INCOME FROM CAPITAL
This academic paper by Devereux (2003) provides a foundational analysis of how pre-tax profit is specified and used in tax calculations, adding scholarly depth to the financial data presented.
External links selected for their educational value. They are separate from the sources used to report this story.
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