Barclays PLC Finance Director Chris Lucas said investment banking revenue was "softer" in May and June than in the first quarter.
The deterioration in conditions reflected lower levels of capital markets and mergers and acquisitions business, Lucas told analysts at a presentation in London Wednesday. Impairments at Barclays as a whole are likely to improve by as much as 20% this year, the company said.
Barclays Capital contributed about half of pretax profit last year, lifted by its 2008 acquisition of Lehman Brothers' North American operations. Britain's third-largest bank also said it would invest up to $1.5 billion over the next four years to expand its U.K. and European consumer banking operations.
