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Barclays launches quarterly buyback as income soars
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City AM
Barclays launches quarterly buyback as income soarsBarclays posted third-quarter results on Wednesday.
(Image PA Wire)Barclays has set out plans to shift to a quarterly share buyback after the firm recorded a surge in total income for the third quarter.
The FTSE 100 titan netted £7.2bn in total income, breezing past as internal analyst consensus of £7bn.
The bank said it plans to move to a quarterly share buyback with plans to return as part of its plan to return £10bn to shareholders by 2026.
Barclays’ third-quarter profit before tax came in at £2.1bn – falling in line with analyst expectations.