Barclays Bank’s Earnings Exceeds Expectations in the First Quarter of 2021, at 1.7 Billion Pounds

Barclays Bank announced a net profit for the first quarter of 2021 of 1.7 billion pounds, or 2.37 billion dollars, supported by lower fees for loan impairment.

The BoE said these fees fell “dramatically” in the first three months of the year to 55 million pounds – down from 2.1 billion pounds in Q1 of 2020.

Analysts expected net income to reach 1.3 billion pounds for the first three months of the year, according to Refinitiv.

The UK bank had a net income of 220 million pounds for the Q4 of 2020.