Barclays announces £500 million buyback
British lender Barclays announced a new £500 million share buyback programme alongside its third-quarter results on October 22.
Pretax profit increased 12% to £2.3 billion, compared with £2.1 billion a year earlier. Analysts had expected approximately £2.4 billion.
Investment banking income reached £3.1 billion, below forecasts of £3.3 billion. Equities trading revenue increased 47%, while fixed-income trading revenue declined 19%. The share buyback supports shareholder returns, although mixed investment banking performance and potential changes to UK bank taxation could influence the sector's outlook.
Comments