LONDON: Barclays has resumed shareholder payouts after a year-long hiatus due to the COVID-19 pandemic, setting expectations other British lenders will follow suit when they report full year earnings in the next few days.
Barclays' profit was bolstered by a stellar year for its investment bank, which in common with U.S. peers reported strong revenues from its equities and fixed income businesses as customers traded frantically in volatile markets in 2020. Barclays' European rival Credit Suisse meanwhile reported a comparatively weaker performance from its investment bank on Thursday.
The Bank of England had told Britain's seven biggest lenders in March to suspend dividends and share buy-backs until the end of 2020, to help them maintain capital buffers against the expected hit to their loan books from the pandemic.
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