Barclays Reports Surge In Pre-Tax Profit For Q1 2017

Robbie Lawther Reporter 28 April 2017

Barclays Reports Surge In Pre-Tax Profit For Q1 2017

The bank's pre-tax profits have made serious headway since the first quarter of 2016.

UK banking group Barclays saw its profit before tax dramatically swell more than 100 per cent year-on-year in the first three months of this year, as it logged £1.682 billion ($2.177 billion) compared with £793 million in the first quarter of 2016.

The group's total assets decreased 3.6 per cent from the same period last year, from £1.248 trillion down to £1.203 trillion.

Barclays Group's total income for Q1 2017 was £5.823 billion, a 16 per cent increase from Q1 2016, when it stood at £5.041 billion.

The bank, which no longer provides specific results for its wealth and investment management segment, did, however, give figures for its wealth, entrepreneurs and business banking sector as part of its Barclays UK operation. The sector reported an income of £399 million for Q1 2017, a 2 per cent YOY increase from £393 million.

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