Barclays Q3 profit rises 12% to £2.3bn ahead of UK bank tax hike
Briefing by News4U · First published
Barclays reported £2.3bn pre-tax profit, up 12%, and announced a £500m buyback as banks brace for higher taxes in the 28 October budget.
Barclays posted a 12% rise in pre-tax profit to £2.3bn for the three months to 30 September, driven by 7% UK loan growth and a 6% increase in UK retail net interest income to £2bn, and announced a further £500m share buyback, bringing 2026 shareholder returns to £2.8bn. [1] [3]
The bank’s investment bank income fell short of forecasts as fixed-income trading slid 19%, while the TUC urged the chancellor to raise bank taxes to fund a social energy tariff. [1] [2] [3]
The budget announcement is due on 28 October. [1] [3]
Sources
- Barclays profits jump ahead of looming bank tax; French bond yields hit fresh 24-year high – business live
The Guardian Business · · Full text
- Barclays Pretax Profit Misses Estimates on Fixed-Income Weakness
WSJ Business · · Summary only
- Barclays profits up 12% as UK banks brace for tax increase in budget
The Guardian · · Full text