Barclays Capital will contribute more than half the revenue growth of its parent Barclays Bank over the next three years, according to analysts at Citigroup Smith Barney.

Revenues at Barclays Bank are forecast to increase by £3bn (€4.3bn) by 2007, with Barclays Capital, its debt-focused investment bank, contributing 51%, the Citigroup Smith Barney European banking team said in a report. Revenues at Barclays Capital were a record £1.7bn in the first half of last year.