Earnings ·
Barclays announces £500m share buyback as Q3 profit before tax rises 12% to £2.3bn
BCLYFBarclays PLC
Barclays PLC reported a third-quarter profit before tax of £2.3 billion, an 18% increase in earnings per share to 12.3 pence, and a return on tangible equity of 11.7%. The bank announced a new £500 million share buyback tranche, bringing year-to-date capital distributions to £2.8 billion. Operating costs rose to £4.6 billion due to structural cost actions and investment spend, while the common equity tier 1 ratio remained stable at 14.2%. Barclays operates in the global banking and financial services industry.