Barclays Announces £750m Share Buyback Despite Profit Decline

Bank's half-year profits fall 8%, but strong investment banking performance and cost-cutting measures improve outlook.

Barclays' pre-tax profits for the first half of 2024 dropped to £4.2 billion from £4.6 billion last year.
The bank set aside £897 million for bad debts, slightly up from £896 million a year ago.
Net interest income outlook for the full year increased to around £11 billion due to higher expected interest rates.
Barclays confirmed a £750 million share buyback and boosted half-year dividends.
The bank's three-year plan is progressing with cost-cutting and restructuring efforts.