- High-street bank Barclays reported a rise in third-quarter profits, led by a boost from its investment banking division.

For the three months ended 30 September, pre-tax profit jumped to £2.0 billion from £1.1 billion year-on-year, while total income rose 2% to £4.84 billion.

Investment banking fees and equities division, or CIB, saw return on tangible equity, or RoTE, of 16.4%, up from 10.5%.

Common equity tier one capital ratio climbed to 15.4% from 14.6% at the end of the third quarter of 2020.

Net interest income fell 1% to £3,889m as net interest margin slipped to 2.53% from 2.63% last year, paced by a decline in unsecured lending balances.

Credit impairment net release was £622 million, compared with a £4,346m charge last year.

Looking ahead, the company said it expected to deliver an RoTE above 10% in 2021, with the CET1 ratio forecast in a range of 13-14% for year-end.

Story provided by