Barclays results marred by over-issuance

Barclays has reported group income of £5.8 billion (US$7 billion) in the fourth quarter of 2022 – an increase of 12% year-on-year (YoY). Group operating expenses, at £4 billion, were up six percent from the prior year quarter, reflecting the impact of FX, inflation, and investment in the business. For full year 2022, group income stood at £25 billion – up 14% YoY, with momentum across all operating divisions and the benefit from FX. Income for the corporate and in