July 13, 2020 / 10:30 AM / a month ago

Barclays gets capital boost ahead of likely coronavirus loan losses

FILE PHOTO: The logo of Barclays bank is seen on glass lamps outside of a branch of the bank in the City of London financial district in London September 4, 2017. REUTERS/Toby Melville

LONDON (Reuters) - Barclays told investors on Monday that recent regulatory changes had boosted its core capital, giving it a bigger buffer to absorb likely loan losses through the coronavirus crisis.

The bank said it expected to report a CET1 capital ratio of 14% in half-year results later this month, up from 13.1% at the end of March and ahead of market expectations.

Barclays said it also expected risk weighted assets to be lower than previously anticipated.

The lender warned its half-year results would reflect challenging income and impairments in its consumer and corporate business, but strength in its markets income.

Reporting by Iain Withers; Editing by Tom Arnold

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