Barclays Seen With Profit Gain as CEO Fends Off Capital Demands
This article is for subscribers only.
Barclays Plc, Britain’s second-largest bank by assets, may post a 19 percent gain in second-quarter profit as Chief Executive Officer Antony Jenkins tries to fend off regulators’ calls to raise capital immediately.
Barclays will say pretax profit, excluding swings in the value of its own debt, rose to 2.11 billion pounds ($3.3 billion) from 1.78 billion pounds in the year-earlier period on cost-cuts and increased income from investment banking, according to the median estimate of seven analysts surveyed by Bloomberg. The London-based lender is scheduled to report results on July 30 at 7 a.m. local time.