Brief
Barclays posts 12% rise in Q3 pre‑tax profit on cost cuts and equity trading boost
The UK bank said the profit jump reflects stronger equity markets and a £200 million efficiency programme as it nears the end of its three‑year plan.
By Felo News Desk · Published
Barclays said its pre‑tax profit for the three months to the end of September rose 12% year‑on‑year to £2.3 billion, according to reports by Standard and The Independent on 22 October 2026.
What happened
The bank’s earnings were lifted by a 47% surge in equity‑trading revenue, while income from its fixed‑income trading arm fell 19%. The investment bank generated the highest division revenue at £3.1 billion. Across its UK retail, corporate, wealth‑management and investment‑banking businesses, income increased. Barclays also recorded £200 million of cost‑efficiency savings in the quarter and plans a further roughly £300 million of savings before year‑end.
What the reports add
Both outlets reported the same profit figure and growth rate. Standard highlighted that the equity‑trading boost helped offset the decline in fixed‑income trading, while The Independent repeated the same detail without additional commentary. No discrepancies were noted between the two sources.
What was said
Group chief executive CS Venkatakrishnan, known within the bank as Venkat, told the bank that “with one quarter to go before the end of our original three‑year plan, we have either achieved or are on track to achieve all of our 2026 group targets.” He added, “We are confident in and committed to the 2028 targets that we laid out earlier in the year.” Both outlets quoted the same remarks.
How it came about
The profit rise comes as Barclays approaches the final quarter of a three‑year strategy aimed at boosting performance through cost reductions and technology investment. The £200 million savings this quarter follow earlier efficiency drives announced in previous years. A similar cost‑cutting narrative was reported in Felo’s coverage of H&M’s profit boost after cost cuts (hm-profit-2026).
Key facts
- Barclays' pre‑tax profit for Q3 2026 was £2.3 billion, up 12% YoY. (standard.co.uk)
- Equity‑trading revenue rose 47% in the quarter. (standard.co.uk)
- The bank saved £200 million in cost efficiencies during Q3. (independent.co.uk)
- Group chief executive CS Venkatakrishnan said the bank is on track to meet its 2026 targets. (standard.co.uk)
Sources
- [1] standard.co.uk
- [2] independent.co.uk
