Barclays third-quarter profit pips forecasts on US credit cards business
LONDON -Barclays said its profit for the third quarter dipped slightly from a year ago, nonetheless beating expectations as strong performance in its primarily U.S.-based credit cards business offset sliding revenue in its investment bank.
The bank held off on any unscheduled returning of excess capital to shareholders, following a 750 million pound buyback in July that helped take the sting out of disappointing half-year results. Barclays reported a 6% drop in income at its investment bank for the quarter, following a similarly downbeat performance at the half-year results update in July.
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