Barclays H1 results shows the bank reported a pre-tax profit of £1.66bn for the first half of 2018, a slump of 29% compared to £2.34bn a year ago.

The results were affected by litigation and conduct charges of £2bn, mainly related to a £1.4bn settlement signed with the US Department of Justice over sale of toxic securities.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The banking group posted attributable profit of £468m during the period, versus a loss of £1.21bn in the previous year.

Net operating income for the half year ended 30 June 2018 was £10.36bn, up 5% from £9.82bn a year ago. Operating expenses increased 13% to £8.71bn on a year-on-year basis.

The bank’s UK division, which includes personal banking, card and wealth management businesses, reported attributable profit of £426m for the first half of 2018, compared to £185m last year.

Barclays H1 results

Compared to last year, the unit’s pre-tax profit surged 30% to £826m while total income dipped 1% to £3.62bn. Operating expenses at the unit dropped 9% year-on-year to £2.38bn.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The banking group’s International division posted attributable profit of £1.86bn for the first half of 2018, a rise of 13% from £1.65bn in the previous year. The unit includes the bank’s corporate and investment bank, and consumer, cards and payments.

The International division’s pre-tax profit increased 4% to £2.71bn from £2.61bn last year, while operating expenses dipped 1% to £4.66bn.

Barclays CEO Jes Staley said: “The first half of 2018 has been characterised by strong financial performance and increased profitability. Our Group return on tangible equity (RoTE) was 11.6% and profit before tax was £3.7bn, excluding litigation and conduct.

“Barclays’ CET1 capital ratio was 13.0%, driven by strong organic earnings growth and the regulatory deconsolidation of Barclays Africa.”