Net profit attributable to shareholders reached €1.64 billion as fixed-income trading and advisory revenue beat forecasts, offsetting an 8% increase in expenses and the cost of leaving Indian retail banking.
First-half pretax profit rose 17% to £6.1 billion and equities revenue jumped 45%, yet the shares fell nearly 5% as Barclays forecast higher restructuring costs and remained behind Wall Street trading growth.
Lazard reported a steep second-quarter profit decline as a higher tax rate and weaker financial advisory revenue overshadowed growth in asset management. The investment bank is cutting senior advisory roles while trying to redirect resources toward sectors with stronger fee potential.
JPMorgan Chase reported stronger-than-expected quarterly earnings, with record-level profit, robust markets revenue and resilient consumer activity. The results reinforce how large U.S. banks are benefiting from active trading desks, investment banking momentum and household spending despite a still complex macroeconomic backdrop.
