Barclays Bank has achieved a growth rate of 22% in first quarter earnings exceeding the expectations of the market, rather than as a strong recovery of the investment banking revenues and lower bad debts rise in compensation following the irregularities in the sale of insurance policies.
The British bank announced today, Thursday, adjusted profit before tax of $ 2.45 billion pounds (3.94 billion dollars) in the three months to the end of March, up from £ two billion a year earlier, exceeding the average forecast of two billion pounds in a survey of analysts conducted by the bank.
Revenues for Barclays Capital, a unit investment activities that contribute to the greatest extent in the bank's profits to 3.46 billion pounds, up 3% from the fourth quarter of last year and exceeding the expectations that the average of £ 3.36 billion.
The decline in income from trading securities as a result the debt crisis of the euro area has received from the profits of Barclays in 2011, prompting the chief executive Bob Diamond to delay the goal of achieving a return on investment of 13% set by less than a year.
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