October 24, 2018 / 6:15 AM / 20 days ago

Barclays reports profit before tax of 3.1 bln stg for first nine months

LONDON, Oct 24 (Reuters) - Barclays reported a profit before tax of 3.1 billion pounds ($4.02 billion) for the third quarter, as its under-pressure investment banking division booked increased trading revenues despite difficult market conditions.

The bank also said it will redeem $2.65 bln worth of preference shares, in a move to reduce its annual funding costs.

Barclays reported a better than expected core capital ratio of 13.2 percent at the end of the third quarter.

$1 = 0.7705 pounds Reporting By Lawrence White and Emma Rumney, editing by Sinead Cruise

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