Barclays’ Personal and Corporate Banking arm has registered attributable profit of £1.1bn for the first half of 2015, a 6% rise compared to £1.04bn a year ago.
For the period ended 30 June 2015, the unit’s pre-tax profit rose 4% to £1.53bn from £1.47bn a year ago.
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Total income saw a marginal rise of 1% £4.38bn from £4.36bn in the first half of 2014.
Personal income reduced 2% to £2.014bn due to mortgage margin pressure from existing customer rate switching and lower fee income, partially offset by balance growth and improved savings margins, the bank said in a statement.
Corporate income increased 6% to £1.87bn with balance growth in both average lending and deposits, and improved deposits margins, partially offset by lending margin compression.
The division also includes the bank’s wealth business. Wealth income reduced 9% to £493m primarily as a result of the impact of customer redress in the US, the statement added.
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By GlobalDataClient assets decreased £8.7bn to £142.6bn primarily due to the announced disposal of the US Wealth business and ongoing strategic market exits.
The division’s net fee, commission and other income reduced 9% to £1.18bn due to the launch of the revised overdraft proposition in second half of 2014.
Overall, Barclays group posted statutory pre-tax profits of £3.1bn for the six months to the end of June 2015, an increase of 25% compared to £2.5bn a year ago.
