Jul 28, 2021

Barclays boosted by UK recovery

The lender reported net income of £2.1bn, up from £90m in the same period last year and easily beating analysts' expectations for £1.4bn. Revenues for the period rose 1 per cent to £5.4bn, slightly more than the £5.3bn estimate. Reporting a 27 per cent recovery in first-half revenues from the year ago period to £1.6bn, ITV said it would not pay an interim dividend but planned to make a final payout for the year "Assuming the economy continues to recover". Interim pre-tax profit jumped to £133m compared with £15m in the first half of 2020 as ad revenue improved 29 per cent. Rathbone Brothers said funds under management and administration grew 8.2 per cent to £59.2bn in the first half. An increase in commercial deposits meant total deposits grew by £500m to £16.6bn over the half, while the loan book grew 2 per cent to £12.3bn, it reported.

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