Barclays and Standard Chartered prosper in first quarter, but losses loom
Like other banks, Barclays and StanChart benefited from unprecedented market volatility when Covid-19 curtailed much global commerce
29 April 2020 - 17:15
London — Traders sustained profits at Barclays and Standard Chartered in the first quarter as the UK-based lenders braced for the full impact of the coronavirus pandemic.
Barclays’ trading revenue surged 77%, the most reported so far by a global bank for the three months ended March 31. The investment bank also started the second quarter well, finance director Tushar Morzaria said on Wednesday. At Standard Chartered, the financial markets business contributed the biggest boost to the income growth...
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