The bank’s investment division generated £4 billion in income during the second quarter, comfortably clearing the £3.7 billion forecast by analysts. While these gains were substantial, they trailed the 69% average equities growth seen at American competitors, who benefited from a significant boost provided by the SpaceX initial public offering.

Bolstered by these results, Barclays announced a £1 billion share buyback, exceeding the £831 million anticipated by the market. Management has raised the full-year income guidance to £31.5 billion, up from the previous £31 billion target, and confirmed the group remains on course to hit its 2026 performance benchmarks.