Investment Banking

Barclays profits surge on record investment bank fees, slump in bad loans

Barclays' investment banking fees rose 35% to £859m

Barclays profits surge on record investment bank fees, slump in bad loans
Photo: AFP/Getty Images

Strong performance at Barclays' investment bank and a slump in money put aside for bad loans bolstered first quarter profits at the UK lender, but its retail unit is still facing challenges from the Covid-19 crisis.

The bank's bottom line profits almost tripled to £1.7bn as a strong investment bank performance and a drastic decline in bad loans helped boost the numbers. Revenues were down 6% to £5.9bn, which were still ahead of analyst expectations.

WSJ Logo
Aviva Takeover of Direct Line Gets Green Light From U.K. Antitrust WatchdogExternal link

Aviva Takeover of Direct Line Gets Green Light From U.K. Antitrust Watchdog