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Dow Jones Newswires: Barclays profit and income beat forecasts


Barclays PLC said Wednesday that its third-quarter pretax profit and total income rose ahead of market views, and that it achieved income growth in all three of its businesses.

The FTSE 100 bank


posted a pretax profit of 1.97 billion pounds ($2.26 billion) compared with a restated GBP1.86 billion for the same period a year earlier. It was expected to be GBP1.81 billion, according to the lender’s compiled consensus.

Net profit for the quarter reached GBP1.51 billion, up from GBP1.37 billion for the year-earlier period. It was expected to reach GBP1.20 billion, according to the bank’s compiled consensus. Net interest margin–a closely watched metric–was 2.78%, up from 2.53% a year before.

Total income rose to GBP5.95 billion from GBP5.47 billion. It was anticipated to be GBP5.91 billion, taken from the bank’s compiled consensus.

The bank ended the period with a common equity Tier 1 ratio–a key measure of balance-sheet strength–of 13.8%, in line with expectations.

Barclays said its diversified income streams position it well for the current economic and market environment, including rising interest rates.

Write to Joe Hoppe at

Dow Jones Newswires: UniCredit Q3 revenue hits 4.47 billion euros and guidance raised

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