Bloomberg reports that pretax profit, excluding provisions and accounting losses from revaluing the bank’s own debt, rose to $2.8bn, the London-based bank said in a statement Wednesday.
The results are the first since Antony Jenkins took over as chief executive officer in August after Barclays was fined a record 290 million pounds for manipulating Libor. He’s benefited from a rebound in fixed-income markets triggered by European Central Bank President Mario Draghi’s July pledge to defend the euro with 'whatever it takes'.
'We continue to have good momentum in our businesses despite the difficulties we have faced', Jenkins said Wednesday in the statement. 'Our universal banking franchise remains strong and well-positioned'.
Barclays’s revenue from fixed income, commodities and currencies rose 10% from a year earlier to $2.54bn in the third quarter, helping push investment-banking revenue 17% higher to $4.23bn.
Hit the link below to access the complete Bloomberg article:
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