Investment Banking

Barclays’ bond trading revenue surges 40% despite ‘entirely avoidable’ £500m blunder

The Russia-Ukraine conflict has led to a surge in trading revenue at the UK lender

Bank puts aside £320m to cover bungled sale of structured bond product, but trading remains buoyant
Bank puts aside £320m to cover bungled sale of structured bond product, but trading remains buoyant Photo: Chris Ratcliffe/Getty Images

Barclays’ fixed-income trading unit surged by nearly 40% in the first quarter, the biggest increase of any of its rivals, but its corporate and investment bank was hit by a falling fee pool.

The UK lender pulled in £2.7bn across its sales and trading unit, an increase of 26%, as a surge in market volatility on the back of Russia's invasion of Ukraine bolstered revenue.

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