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Barclays investment bank earnings slow


Barclays investment bank earnings slow


Barclays has revealed that says income from its key investment banking division remains weak, but its underlying third-quarter profit was lifted to 1.27 billion pounds (1.47 billion euros) by the fact that it had many fewer bad debts.

Analysts expressed concern that the British bank’s income from its investment unit Barclays Capital slipped 14 percent from the previous quarter continuing the slowdown seen in the first half.

Barclays has emerged as one of the relative winners from the financial crisis after steering clear of a taxpayer bailout, but there has been growing concern about Barclays Capital’s slowing momentum.

Losses on bad debts in the first nine months were down 31 percent to 4.3 billion pounds (4.98 billion euros), putting Barclays on target to beat its 2010 guidance that bad debts would fall 15-20 percent.

The bank said it was “well equipped” to deal with regulatory changes as tougher global capital rules are implemented, and its core Tier 1 capital ratio held at 10 percent at end-September.

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