Switch off the editor’s digest free of charge
Roula Khalaf, editor of the FT, selects her favorite stories in this weekly newsletter.
Barclay’s net profit rose to 1 billion GBP in the fourth quarter, since it marked a year since the managing director CS Venkataknan introduced his three -year plan for the new edition of the British bank.
The profits defeated the analyst expectations of 989 million GBP and rose compared to the same period of the previous year when Barclay had a net loss of 111 million GBP. The group income rose by 24 percent to 7 billion GBP, compared to the expected analysts of 6.7 billion GBP.
Barclays Last February, a plan to secure growth and return 10 billion GBP stated to the shareholders by concentrating on the British market and restricting the capital amount consumed by their investment bank.
Since then, the stocks of the bank have more than doubled because investors have gained confidence in the UK and European banks.
“Overall, a solid series of results, but little new to get excited about both,” wrote Citibank -Analyst Andrew Coombs. “This and the strong increase in the share price last year can alleviate any initial reaction.”
This is a developing story
