Barclays Posts Stable 1Q; On Track to Close Noncore and Complete Restructuring
Barclays posted a stable first quarter, in our view, with its top line increasing 15% year over year to GBP 5.3 billion. Despite a 19% increase in loan-loss provisioning due to consumer cards, total income increased more than 16%, thanks to the healthy fee generation. However, net interest income showed poor performance, declining 6% due to competitive pressure in asset margins. Overall, Barclays managed to post profit before tax of GBP 1.7 billion, which more than doubled versus same quarter a ...
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