Barclays profits up 12% as UK banks brace for tax increase in budget

A major UK lender has announced a £500 million shareholder payout following a 12% rise in pre-tax profits for the third quarter, reaching £2.3 billion—up from £2.1 billion in the same period last year. The move comes as the bank prepares for expected increases in UK banking taxes, which will be outlined in next week’s budget. Analysts will be watching how the company balances returns to investors against rising financial pressures. The latest figures reflect strong performance amid economic uncertainty.

Lender gives further £500m to shareholders after reporting £2.3bn in pre-tax profits from July to September Business live – latest updatesBarclays is giving a further £500m to shareholders after reporting a jump in quarterly profits, as the lender steels itself for an increase in UK bank taxes at next week’s budget.The lender said it logged £2.3bn in pre-tax profits over the July to September quarter, up 12% from £2.1bn during the same period last year. Continue reading...