Barclays, which last month moved to a single corporate brand name which resulted in Barclays Wealth being renamed wealth and investment management, said that its client assets increased to GBP172 billion in the first three months of 2012.
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Overall, the British bank reported an adjusted pretax profit of GBP2.45 billion for the first quarter of 201, an increase of 22% compared to the year ago period.
However, the group bank reported a statutory loss before tax of GBP475 million during the first quarter of 2012, after setting aside a further GBP300 million for payment protection insurance.
Barclays said its adjusted return on average shareholders’ equity had risen to 12.2% in the first quarter, from 10.2% in the same quarter the year before.
"Barclays first quarter results are an encouraging start to the year and demonstrate continued progress across our execution priorities," chief executive Bob Diamond said in a statement.
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By GlobalData"Our rock solid capital, funding and liquidity positions remain a source of competitive advantage and enabled us to fund a substantial proportion of our 2012 term funding requirements," he said.
