British bank Barclays said Thursday it has postponed its share buyback program indefinitely and set aside a 540 million pound provision following it reported a first-quarter profit that exceeded expectations as strong investment banking performance boosted its earnings, CNBC reported.

The bank reported first-quarter net income of 1.4 billion pounds ($1.76 billion), above analysts’ expectations of 644 million pounds, according to Refinitiv. The bank had initially said it expected a loss of 450 million pounds. The bank’s profits rose 10% year-on-year to £6.5 billion, driven by strong corporate and investment banking earnings during a spike in volatility.

Last month, the British bank announced it had sold $15.2 billion more than it was allowed to sell investment products in the U.S., which is being investigated by U.S. regulators, while the bank itself has postponed its share buyback program indefinitely and set aside a £540 million reserve.

“Barclays believes it is prudent to delay the commencement of the buyback program until discussions [with the U.S. Securities and Exchange Commission] are concluded,” the bank said in a release Thursday.

The bank wrote that they intend to start it as soon as possible as soon as an agreement is reached with the U.S. Securities and Exchange Commission (SEC).

Barclays’ total operating expenses rose to 4.11 billion pounds, up from 3.58 billion in the first quarter of 2021, due to increased litigation and allegations of conduct resulting from the U.S. trading error.

The bank’s shares have fallen nearly 22% this year amid concerns about interest rates, inflation and slowing growth.