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Barclays swings to profit with 3rd-quarter earnings, beating expectations as UK consumer business picks up | Markets Insider

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Barclays swings to profit with 3rd-quarter earnings, beating expectations as UK consumer business picks up

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"We expect the impairment charge in the second half of the year to be materially lower than the first half," CEO Jess Staley said.Barclays reported a return to profit in the third quarter of the year on Friday, beating analyst expectations, after an improvement in its lending business allowed it to set aside less cash to deal with bad loans than it had earlier in the year.

"Our impairment charges now total £4.3 billion , with an additional £608 million taken in Q3 20, a figure down 63% on the previous quarter," Barclays chief executive Jes Staley said in a."We expect the impairment charge in the second half of the year to be materially lower than the first half."

 

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