Barclays profit up as bank says it’s cooperating over Euribor
Barclays has reported pretax profit of £2.851bn in the nine months to 30 September, up from £962m for the same period last year. The figure, says the bank, reflects a reduced own credit charge of £125m, from £4.019bn last year. (Release)
But the lender did see adjusted profit before tax fall 20 per cent to £4.976bn in the period (from £6.204bn last year).
Provisions for PPI were reduced in the period by £387m to £1.263bn.
Impairment charges improved six per cent, to £2.353bn.
Its investment bank sector saw a 12 per cent fall from last year to this, with statutory profit decreasing from £3.230bn to £2.852bn.
The report also stated that Barclays is a party to the European Commission's investigations into the manipulation of Euribor, and that it continues to cooperate with the Commission, who are expected to come to a decision on findings by the end of the year.