Barclays Shows Green Shoots in Third Quarter; Progressing Parallel to More Diversified Bank Vision
Barclays' third-quarter results came in strong on the heels of its recently announced diversification plan. Its core business delivered 4% growth in profit before tax and return on average equity of 9.1%. On a group level, profitability remained pressured, as the bank is still progressing with the rundown of its noncore unit. However, Barclays International, its corporate and investment banking arm, posted strong profit thanks to its trading business. All lines of the markets business posted str...Barclays is a holding company. Through its subsidiaries, Co. is a financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services. Co.'s business segments are: Barclays U.K, which provides everyday products and services to retail customers and small to medium sized enterprises; Barclays International, which delivers products and services designed for Co.'s corporate, wholesale and international banking clients; and Head Office, which comprises head office and central support functions (including treasury) and businesses in transition.
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