Provisions smash expectations at Barclays but FICC take doubles

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Provisions smash expectations at Barclays but FICC take doubles

Barclays_PA_575x375_29April2020
File photo dated 18/07/18 of a Barclays Bank in London. The UK’s highest court is set to decide whether Barclays Bank should be held liable for any sexual assaults found to have been committed by a doctor who carried out medicals on its behalf. | Ian West/PA

Barclays’ revenue from markets in the first quarter was its best ever, the bank said, but another large figure overshadowed this: credit provisions across the group came in at more than double the consensus estimate, on the basis of macroeconomic assumptions seen as conservative and a £300m hit from low oil prices.

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