Barclays told investors on Monday that recent regulatory changes had boosted its core capital, giving the British bank a bigger buffer to absorb any further loan losses during the coronavirus crisis.
FILE PHOTO: A Barclays bank building is seen at Canary Wharf in London, Britain May 17, 2017. REUTERS/Stefan Wermuth/File Photo
The bank said it expected to report a CET1 capital ratio of 14% in half-year results later this month, up from 13.1% at the end of March and ahead of market expectations.The bank said its half-year results would reflect challenging income and impairments in its consumer and corporate business, but strength in its markets income.
John Cronin, banking analyst at Goodbody, said it was likely other banks could see a similar boost to capital from the recent rules changes, including a softening of capital accounting rules rolled out in June.
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