British bank Barclays has met expectations with a £1.8 billion pre-tax profit in the first quarter of this year, up 47% from a year earlier.
Barclays joined rivals in reaping the benefit of strong investment bank earnings and falling bad debts as economic growth returns.
Barclays Capital accounted for four-fifths of group profits, as the investment bank's earnings jumped 62% to £1.5 billion on the back of strong fixed income, currencies and commodities business.
That echoes a trend from US and European rivals including Goldman Sachs, JPMorgan and Deutsche Bank.
Barclays' impairment charges and other credit provisions tumbled 35% from a year earlier to £1.51 billion.
