Barclays posts surge in profits on strong trading – Daily Business
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The Barclays campus in Glasgow
Barclays bank has reported a 17% rise in first-half profit before tax to £6.1 billion, beating analysts’ forecasts and kickstarting what is likely to be a bumper reporting week for the sector.
Strong equities trading revenues and deal fees contributed to the surge which exceeded the consensus estimate of about £5.94bn.
Group income rose 11% year-on-year to £16.5bn, with the investment bank showing a 20% income increase.
The bank also announced a fresh share buyback of £1 billion, above forecasts for £831 million.
It declared a dividend of 5.9p per share, a significant increase from the previous year’s 3p. The company has also upgraded its 2026 Group income target to approximately £31.5bn.
C S Venkatakrishnan, Group chief executive, commented: “I am pleased with another strong quarter for Barclays.
“We are upgrading the 2026 Group income target to c.£31.5bn and remain committed to, and confident in, delivering all financial and distribution targets for 2026 and 2028.”
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