Barclays PLC reported Friday that profits increased 29 percent in the first quarter. Barclays PLC trades on the “New York Stock Exchange” under the stock symbol “BCS”. For More information regarding “BCS” or the Latest Stock Market Information, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Barclays PLC (NYSE:BCS) reported Friday that profits increased 29 percent in the first quarter because the rate of bad loans lessened, but its share price flopped as a decrease in investment banking troubled investors.
Barclays net profit of 1.07 billion pounds ($1.65 billion) compared with 826 million pounds in the same period a year earlier. Revenue rose 4 percent to 8.07 billion pounds, the bank said in an interim management statement.
"The improvement that we have seen in impairment reflects the signs of economic recovery now evident in many of the markets in which we operate," Chief Executive John Varley said.
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