LONDON, April 25 (Reuters) - Barclays on Thursday posted a first quarter pretax profit of 1.5 billion pounds ($1.94 billion), down from 1.7 billion pounds a year ago but in line with analysts’ expectations amid tough market conditions.
Barclays, which is facing calls from activist investor Edward Bramson to streamline its investment banking business, saw return on equity in the international unit that houses the investment bank increase to 10.6 percent from 8.7 percent at the end of 2018.
The bank’s overall profit, which excluded legal and conduct charges, was in line with the 1.57 billion pounds forecast compiled from the average estimates of 13 analysts polled by the bank.
The bank’s core capital ratio fell to 13 percent from 13.2 percent at the end of the previous quarter, and its total income of 5.25 billion pounds fell short of analysts’ expectations.
$1 = 0.7748 pounds Reporting By Lawrence White, editing by Sinead Cruise