Barclays has reported lower profits for the start of the year, as mortgage lending and deposits dipped and its investment bank was squeezed amid prevailing economic uncertainty.
It saw customer deposits dip by 2% driven by lower customer account balances, which the bank said reflected broader consumer trends. Barclays group chief executive CS Venkatakrishnan said the bank was “focused on disciplined execution” of its cost-saving plan.
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Barclays profit falls as mortgage lending and investment bank squeezedThe bank reported a group pre-tax profit of £2.3 billion for the first three months of the year, down 12 from last year.
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