Barclays earnings q1 2021
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The British financial institution stated these expenses had fallen “considerably” within the first three months of the yr to £55 million — down from £2.1 billion within the first quarter of 2020.
It additionally reported a rebound in fairness buying and selling and funding banking.
Analysts had anticipated web revenue to return in at £1.3 billion for the primary three months of the yr, in keeping with Refinitiv. The British financial institution posted web revenue of £220 million for the fourth quarter of 2020.
Different highlights for the quarter:
- Revenues hit £5.9 billion, down from £6.3 billion a yr in the past.
- CET 1 ratio, a measure of financial institution solvency, got here in at 14.6%, a fall from 15.1% final quarter.
“Whereas momentum within the shopper companies, notably card balances, will take time to construct, Barclays secured vital new development alternatives in Q1 (first quarter),” Jes Staley, CEO of Barclays stated in an announcement.
“Whereas proof of restoration is encouraging, now we have continued to take a cautious view of the impression of the pandemic on the enterprise. We stay disciplined on prices, with a value to revenue ratio of 61% this quarter,” he added.
Shares of Barclays are up about 31% for the reason that begin of the yr.
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