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Sharp decrease of Barclays’ profit

The British bank Barclays said its profits decline by 5% in the first quarter, the main reason is the strong decrease in the revenues of the investment banking unit. The profit of the financial institution for the period was 1.01 billion pounds after the same period last year it was 1.07 billion pounds. Profit before tax, which is monitored more closely by investors, fell by 9 per cent annually to 1.66 billion dollars. The revenue Unit Barclays Capital investment banking shrank by 15 percent to 3.85 billion pounds. The decline in revenue from trading fixed income instruments, currencies and raw materials is 22 percent. According to the report of the financial institution the ratio of tier one capital has improved by 11 per cent since the end of 2010 was 10.8 per cent. Following the publication of results for first quarter of Barclays shares lost 3.4 per cent of its value.