Fixed income revenue drop hurts BarCap profits

FICC fall overshadows higher equities and investment banking revenues at the UK investment bank in the first three months of the year

Wednesday 27 April 2011 at 15:09

A one-fifth drop in revenues at Barclays Capital’s fixed income, currencies and commodities division contributed to a one-third drop in pre-tax profits at the UK investment bank.

BarCap said in its first-quarter interim management statement this morning that revenues from FICC fell from £2.7bn a year ago to £2.1bn.