Barclays Investment Bank More Profitable Even as Revenue Stalls

Barclays Plc’s cuts to its investment bank are delivering higher profit even as the lender misses out on the rebound in trading equities and bonds helping its competitors.

Profit at the unit jumped 37 percent in the first quarter, while revenue rose just 2 percent from the year-earlier period to 2.15 billion pounds ($3.3 billion), Barclays said Wednesday. Equities revenue gained 4.7 percent to 619 million pounds, while revenue in fixed income, currencies, commodities and credit combined was flat.