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Tuesday, November 09, 2010

The Curate's Egg

Barclays plc has delivered something of a curate's egg wrt it Q3 financials released today.

Pretax profit in the three months to the end of September fell from £1.36BN (Q3 2009) to £327M million pounds, a fall of 76%.

Analysts had expected profits of around £700-800M.

A large chunk of the fall was due to poor results from the investment arm of the bank, which posted a pretax loss of £182M compared with a profit of £369M the year earlier.

That being said Barclays state that their capital ratio is strong, which will enable it to weather any future storms.

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