Barclays profit hits £3bn

By Bruno Reis

The UK-based bank, Barclays, has reported an 82% rise in its half-year pre-tax profits, according to the Financial Times.

The company’s pre-tax profits during the review period hit £3bn (US$3.63bn). The firm’s results mark the best figures for the six months to June in nine years.

However, the bank’s underlying profitability has fallen by 15% to £3.1bn (US$3.75bn).

SEE ALSO:

During the first quarter of the year, Barclays cut 3,000 jobs from its 82,000 total.

According to Jes Stanley, Chief Executive Officer of Barclays, the company has had a renewed focus on cost control, such as reducing bonuses and investment spending.

The firm aims to lower its annual expenses to below £13.6bn (US$16.46bn). The bank’s previous guidance was between £13.6bn and £13.9bn (US$16.83bn).

Share

Featured Articles

Meet the COO: Brook Sims of MAC Diversity Recruiters

Passionate about helping others find their voice, diversity leader and COO Brook Sims talks powerful leadership, diverse teams and being a change agent

Best business books to improve leadership strategy

From strategic guides to inspiring CEO memoirs, these new books dish up plenty of principles, strategies, and anecdotes to help you become a better leader

Shoplazza founder and CEO Jeff Li, ex Baidu, on leadership

Named in Fortune China’s 40 under 40 for 2022, former Baidu head Jeff Li is the entrepreneurial founder and CEO of ecommerce platform Shoplazza

The office shifts to new way of working – workplace special

Leadership & Strategy

Trailblazer: Clorox's DEI leader Shanique Bonelli-Moore

Sustainability

The inspirational CEO story – Dean Forbes of Forterro

Leadership & Strategy