Despite the pandemic, Barclays gained on revenue

Despite the pandemic, Barclays gained on revenue

There was a silver lining for Barclays

The British multinational bank, Barclays, released today its financial report, and the market was disappointed.

Barclays posted a before-tax profit of 359 million pounds, roughly four times lower than last year’s GBP1.53 billion. Numbers came lower than the expected GBP491 million.

The net profit came in at GBP90 million, down from last year's GBP1.03 billion. It came two times lower than the bank's consensus of GBP180 million. The net interest income dropped by 20% to GBP1.9 billion, after the interest rates reached a record low of 0.1% in March.

Total revenue for Q2 was GBP5.34 billion, exceeding the bank’s expectations of GBP5.27 billion. However, compared to last year’s numbers, it came in lower than the GBP5.54 billion reported then.

After the report, the stock price traded lower by 4%. Since the beginning of the year, Barclays stocks fell 39%.

Check-out on how other banks performed in Q2!


The information presented herein is prepared by and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.

Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance and forecasts are not reliable indicators of future results.