Barclays reported a net profit for the second quarter, slightly down from last year due to a drop in net interest income in its UK units. This profit exceeded analyst expectations. Revenue surpassed forecasts, and the bank announced a share buyback program. Net interest income at the consumer bank fell, while the investment bank saw an income increase. Barclays raised its full-year net interest income target and highlighted a major restructuring to boost efficiency and profits.
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00:00It's Benzinga, and here's what's on the block.
00:02Barclays reported a net profit for the second quarter slightly down from last year due to a
00:07drop in net interest income in its UK units. This profit exceeded analysts' expectations.
00:13Revenue surpassed forecast and the bank announced a share buyback program.
00:17Net interest income at the consumer bank fell while the investment banks saw an income increase.
00:22Barclays raised its full-year net interest income target and highlighted a major restructuring
00:27aimed at boosting efficiency and profits.
00:29For all things money, visit Benzinga.com.