Barclays reported an 11% rise in first quarter total income to £7.7bn (£7.4bn expected). Performance was positive across divisions, with the UK and Investment Bank showing strong growth.
Profit before tax rose from 19% to £2.7bn (£2.5bn expected), as income growth outpaced a 5% rise in operating costs. Credit impairment charges of rose from £513mn to £643mn, largely the result of a weaker economic outlook.
The CET1 ratio, a key measure of capital levels, ended the quarter at 13.9% (target range 13-14%).
For 2025, Barclays now expects net interest income of £12.5bn (previously £12.2bn).
The shares rose 1.3% in early trading.
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