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Barclays profit surges in third quarter

London, United Kingdom | AFP |  British bank Barclays on Wednesday reported a 72-percent surge in quarterly net profits as strong performances by its retail and credit card divisions offset weakness at its investment unit.

Profit after tax jumped to £1.0 billion ($1.3 billion, 1.1 billion euros) in the three months to September compared with the third quarter of 2017, Barclays said in a statement.

“In spite of macro-economic uncertainty, and particularly concerns over Brexit which weigh heavily on market sentiment, 2018 is proving to be a year of delivery… at Barclays,” said chief executive Jes Staley.

“We remain focussed on generating improved returns, and on distributing a greater proportion of excess capital to shareholders over time,” he added.

 

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