Barclays takes out insurance policy to meet target CGAThompson
Barclays on Aug. 1 reported first-half pre-tax profit of 3 billion pounds, an increase of 82% from a year earlier. Excluding litigation and conduct charges, pre-tax profit fell 15%, to 3.1 billion pounds.
The corporate and investment bank reported a 15% year-on-year drop in pre-tax profit to 1.7 billion pounds and revenue of 5.3 billion pounds, which was down 1% from a year earlier. Barclays reported a common equity Tier 1 capital ratio of 13.4% at the end of the second quarter, compared with 13% three months earlier.
The London-based lender reported an underlying annualised return on tangible equity of 9.4% for the first half of 2019 compared with 11.6% ROTE for the same period in 2018.Barclays shares rose 2.2% to 157 pence by 0730 GMT on Aug. 1.
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