British banking group Barclays has reported pretax profit of £837m ($1.01bn) for the third quarter of 2016, up 35.2% compared to £619m in the prior-year quarter.
The banking group’s profit attributable to ordinary equity holders of the parent was £414m, a fall of 0.7% from £417m in the corresponding quarter of 2015.
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Net operating income dropped 7.8% to £4.65bn from £5.05bn a year ago, while total operating expenses increased 1.6% to £4.32bn from £4.25bn.
Barclays UK – the division that includes the bank's personal banking, card and wealth management businesses in UK – recorded attributable loss of £163m in the third quarter of 2016, compared to a profit of £541m during the same quarter in 2015.
The unit’s pre-tax profit slumped 89.5% to £75m from £720m a year ago, while total income increased 3.6% year-on-year to £1.94bn from £1.87bn.
Total operating expenses at the division stood at £1.52bn, a 51.6% surge from £1bn in the prior year.
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By GlobalDataBarclays International division posted attributable profit of £623m for the third quarter of 2016, a rise of 47.6% from £422m a year ago.
The unit includes the bank's corporate and investment bank, and consumer, cards and payments.
The division’s pre-tax profit jumped 70.5% to £1.08bn from £636m in the prior year. Total operating expenses at the unit dipped 0.2% year-on-year to £2.35bn.
Barclays CEO Jes Staley said: “Our strategic priorities remain: strengthening our core businesses; closing Barclays Non-Core as fast as possible; progressing the sell down of our stake in Barclays Africa to a point where we can achieve regulatory deconsolidation; eliminating costs in both Core and Non-Core; dealing with legacy issues; and meeting our end state capital requirements.
“Taken together, the picture in the third quarter is one of strong progress against this agenda. Our Core businesses are performing well, Non-Core rundown is approaching the final lap toward closure, we are on top of costs, and our capital position is resilient with strong reasons for confidence in meeting our end state target.”
