Barclays Q3 beats expectations on strong investment bank performance, BFSI News, ET BFSI

LONDON, – Barclays reported better than expected third quarter earnings on Thursday, as it followed Wall Street rivals in reaping bumper investment banking fees from a surge in trading and advisory mandates.

The British bank reported profit before tax of 2 billion pounds ($2.76 billion) for the July-September period, better than the 1.6 billion pounds average of analysts’ forecasts and double the 1.1 billion pounds it made in the same period a year ago. ($1 = 0.7242 pounds)