The banking giant was ahead of expectation with a pre-tax profit of £1.9 billion in the latest quarter.
Barclays has beaten profit expectations for the latest quarter but revealed it set aside more than £430 million to cover expected loan losses.
Higher interest rates and weaker house prices prompted the bank to increase its credit impairment charges to £433 million for the period, up from £381 million last year. Barclays revealed that income from its corporate and investment banking division fell by 6% year on year as volatility in the financial markets led to lower customer activity.
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