Barclays profits muted in Q3

Barclays has reported a small rise in pre-tax profits in the third quarter as its investment banking business continued to slow.

Profit for the three months to 30 September was £327m, including an own credit charge of £947m. This was a significant fall from the Q2 pre-tax profit of £2.127bn. Excluding own credit, group profits rose from £1.17bn to £1.27bn between Q2 and Q3, offsetting a decrease in profits at Barclays Capital, the group says. Gross income of £7.4bn - a measure of overall business - was down 4.5% from the quarter before and 9.5% from 2009. Impairments fell to £1.22bn, down 23% from the previous three months, and down 27% from the previous year. Barclays Capital, run by Bob Diamond who take...