Barclays: resilient quarter boosts shares, offsets outlook

(CercleFinance.com) - Barclays shares were trading higher on Friday, as resilience in the British bank's profit offset investor concern over its outlook.


Group CEO James Staley said in a statement that the bank is still targeting a return on tangible equity (RoTE) of over 10% in 2020, even though the outlook has become "unquestionably more challenging" than a year ago, given the uncertainty around the UK economy and the interest rate environment.

In the third quarter, the group delivered a RoTE of 10.2%, resulting in a year-to-date RoTE of 9.7%.

For the year to September, Barclays said its pre-tax profit was 4.9 billion pounds, down from 5.3 billion pounds a year ago, which the bank considers a "consistent and resilient" result, given today's macro headwinds.

The Barclays share was up 2% after these results.

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