By Sabela Ojea
Barclays PLC on Wednesday reported a significant rise in pretax profit for the second quarter, which surpassed market views and pre-pandemic levels.
The FTSE 100 bank posted a pretax profit of 2.58 billion pounds ($3.58 billion), up from GBP359 million a year earlier. Pretax profit for the second quarter of 2019 stood at GBP1.53 billion.
Pretax profit had been expected to reach GBP1.70 billion, according to Barclays's compiled consensus.
The U.K. lender's total income rose to GBP5.42 billion, compared with GBP5.34 billion a year earlier. This compares with GBP5.54 billion for the second quarter of 2019. It had been expected to generate a total income of GBP5.31 billion for the latest quarter.
The bank ended the period with a common equity Tier 1 ratio--a key measure of balance-sheet strength--of 15.1%.
The board has declared a dividend of 2.0 pence a share, higher than the expected 1.8 pence a share.
Write to Sabela Ojea at firstname.lastname@example.org; @sabelaojeaguix
(END) Dow Jones Newswires