Barclays profit plummets 54% in Q3 period

Submitted by Sumeet Verma on Wed, 11/11/2009 - 20:26

Barclays has posted disappointing results for third quarter. The company has recorded a dip of 54% in its profit after tax which stood at 1.07 billion pounds in third quarter. In the similar period a year before, the company had clocked a profit after tax of 2.32 billion pounds.

During the said quarter, total income of the company surged to 7.53 billion pounds as compared with 6.98 billion pounds recorded in the like quarter of previous fiscal.

The net profit of Barclays during nine months period ended September has witnessed a downward trend of 29% to 2.73 billion pounds.

However company’s total income grew 26% to 23.78 billion pounds in nine months period.

In a declaration, the company said that its GRCB business has posted a growth rate of 11% in January-September.

Barclays is a worldwide financial services firm, headquartered in UK, functioning in Europe, North America, and the Middle East. The company has also extended its footprints in Latin America, Australia, Asia as well as Africa.


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