A sign hangs above an entrance to a branch of Barclays Plc bank in the City of London, U.K.
Bloomberg | Bloomberg | Getty Images
Barclays posted a net income of £695 million ($765.64 million) for the first half of 2020, while increasing its coronavirus-related provisions.
“While the remainder of 2020 will be challenging, our diversified model means we can remain financially resilient and continue to support our customers and clients,” Jes Staley, CEO of Barclays, said in a statement.
In the first three months of 2020, the British lender reported net profit of £605 million. At the time, the bank said it was taking a £2.1 billion credit impairment charge to prepare for any shocks from the current crisis.
The stock is down about 37% since the start of the year.
This is a breaking news story, please check back later for more.