Barclays posted a strong start to the year with profits for the three months to March 31st up 15 per cent on the same time last year.
In a statement today, the banks said that, excluding gains from the sale and leaseback of property, the company's profits before tax grew by 10 per cent.
Performance at Barclays Capital experienced its best quarter ever. Growth was driven by strong income contributions across asset classes and regions and excellent results in commodities, equities and mortgage products, the company said.
The bank's UK retail banking sector showed strong growth in net interest income, reflecting a strong deposit performance, while its market share of net new mortgages continued to improve.
Profits at Barclaycard improved in the latter half of 2006, and the company expects Barclaycard US to be profitable this year.