Barclays Profit Falls 76%, Capital Remains ‘Strong’
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Barclays Plc, Britain’s third-largest bank, said its capital ratio remained “strong” as quarterly profit fell 76 percent on lower revenue at the investment banking unit.
Pretax profit in the three months to Sept. 30 dropped to 327 million pounds ($527 million) from 1.36 billion pounds in the year-earlier period, the London-based company said today in a statement, missing the 797 million-pound median estimate of four analysts surveyed by Bloomberg. Barclays Capital, the investment banking unit formerly led by Chief Executive Officer- designate Robert Diamond, posted a pretax loss of 182 million pounds from a profit of 369 million pounds.