British banking group Barclays has reported pre-tax profit of £1.68bn for the first quarter of 2017, a 112% surge from £793m in the year ago quarter.

The banking group’s attributable profit stood at £190m, a slump of 56% compared to £433m in the first quarter of 2016.

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Net operating income increased 15% to £5.29bn from £4.59bn a year ago. Total operating expenses dropped 5% year-on-year to £3.62bn.

Barclays UK – the division that includes the bank’s personal banking, card and wealth management businesses in UK – reported attributable income of £470m for the first quarter of 2017, a marginal rise from £467m in the corresponding quarter of 2016.

The division’s pre-tax profit increased 0.5% year-on-year to £708m, while total income increased 2% to £1.84bn from £1.80bn a year ago. The unit’s total operating expenses was up 0.2% year-on-year to £955m.

Barclays International division- that includes the bank’s corporate and investment bank, and consumer, cards and payments- posted attributable profit of £837m for the first quarter of 2017, a 45% surge from £575m in the year-ago period.

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Compared to the first quarter of 2016, the unit’s pre-tax profit surged 32% to £1.35bn and operating expenses increased 10% to £2.45bn.

Barclays CEO Jes Staley said: “This has been another quarter of strong progress towards the completion of the restructuring of Barclays. Group profit before tax more than doubled compared to Q1 of 2016, and our Core businesses continued to perform very well, producing a combined Return on Tangible Equity of 11%, on an average tangible equity base that is £5bn higher year-on-year. Within that, Barclays UK’s and Barclays International’s RoTEs both improved to 21.6% and 12.5% respectively.

“Non-Core rundown carries on apace, with materially lower losses, and RWAs reducing by a further £5bn to £27bn in the quarter. We remain well on track to close the unit on the 30th of June.”