Barclays posts bumper Q3 pre-tax profits on bond-trading boom

London

BARCLAYS reported a forecast-beating bounce in third-quarter profits to £1.7 billion (S$2.9 billion) on Thursday, as it followed US peers in reporting a bumper quarter for its investment banking business.

The British bank's group pretax profits for the three months to the end of September, excluding notable items, was up from £1.4 billion a year ago, above the average forecast of £1.3 billion from analysts polled by the company.

The performance was driven by improved investment banking results, with trading income up 40 per cent overall from a year ago on…