View more on these topics

Barclays announces £1.82bn Q1 pre-tax profit

Barclays has announced a pre-tax profit of £1.82bn for the three months ending March 31, an increase of 47 per cent from the same period in 2009.

The bank’s income increased by 4 per cent to £8bn, and the UK retail division recorded a profit of £238m.

Gross lending balances to UK households and businesses were up £16bn during Q1 2010, including £7bn relating to the acquired Standard Life Bank.

Customer deposits in the global retailing bank, Barclays Corporate, Barclays Wealth and Absa increased by 5 per cent to £259bn from the year end.

Group chief executive John Varley says: “I am pleased with the strong growth in profits which we have delivered this quarter. Diversification of our business and risk, and good underlying performance, have combined to produce this result. The improvement that we have seen in impairment reflects the signs of economic recovery now evident in many of the markets in which we operate.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com