Barclays lifted its pre‑tax profit to £2.8 bn, a 3% rise, after a hefty £200 mn credit impairment on a single exposure was offset by higher advisory fees. The British lender’s earnings grew on the back of a robust investment‑banking performance.

Revenues climbed to £8.2 bn from £7.7 bn a year earlier, while credit‑impairment charges surged to £823 mn, driven largely by the one‑off hit. The hit, though sizable, was eclipsed by gains in advisory and equity capital markets.

The investment‑banking unit earned £4 bn, up 4% year‑on‑year, but trading income slipped 2% and net interest income rose 29%. Advisory revenue jumped 78% and equity capital markets grew 31%, underscoring a shift toward fee‑based work.

Chief Executive CS Venkatakrishnan praised the quarter as “solid” and announced a fresh £500 mn share‑buyback. Return on tangible equity slipped to 13.5% from 14%, reflecting the impact of higher impairment costs on profitability.