Despite the pandemic, Barclays gained on revenue

By: Miguel A. Rodriguez

09:45, 14 September 2020

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!


Share this article

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided.