Barclays today posted a forecast-beating bounce in third quarter profits to £1.7 billion, as it followed US peers in reporting a bumper quarter for its investment banking business.
The UK bank's group pretax profits for the three months to the end of September, excluding notable items, was up from £1.4 billion a year ago.
This was above the average forecast of £1.3 billion from analysts polled by the company.
Barclays' performance was driven by improved investment banking results, with profits up 40% overall from a year ago on stronger returns from the trading division in particular.
"The growing momentum in attaining our strategic goals means we can feel optimistic of our prospects of completing the restructuring of Barclays," the bank's chief executive Jes Staley said in a statement.
The bank's common equity tier one ratio was unchanged at 11.6%.
Morgan Stanley and Goldman Sachs both saw profits for the third quarter rise by more than 50%, largely from the surge in bond trading as investors fret over monetary policy around the world.
Barclays also benefited from earning the majority of its investment banking revenues in the US, since the dollar has appreciated in value against the British pound in the aftermath of Britain's vote to leave the European Union.
The bank said it was on track to close its non-core unit in 2017 and said costs were under control and on target, but it booked a fresh £600m charge for mis-selling payment protection insurance (PPI).
Analysts expect this could be the bank's last charge for PPI, after the Financial Conduct Authority pushed back a deadline for claims by a year to mid-2019.
The scandal has collectively cost major British lenders more than £30 billion to cover victims' claims.