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Barclays 'strong' despite scandals and quarterly loss

New Barclays boss Antony Jenkins has insisted the bank remains "strong and well-positioned" despite a torrent of reputation-scarring scandals and a £47 million quarterly loss.

Delivering his first set of results today since taking over from Bob Diamond in the wake of the Libor-fixing affair, Mr Jenkins accepted the lender had "much to do to restore trust among stakeholders."

Barclays profit hit by PPI scandal

Barclays has reported a pre-tax statutory loss of £47 million for the third quarter, against a £2.4 billion profit for the same period last year.

The bank's adjusted pretax profit in the three months to the end of September was revealed to be £1.73 billion, in line with analysts' forecasts and up from £1.34 billion a year ago, thanks to strong profits from investment banking.

But including a £700 million charge for mis-selling payment protection insurance would have left profits down 23% at £1.03 billion.

Barclays made £5.9bn amid compensation payouts

by - Former Business Editor
Barclays is reportedly set to cut the salaries of its leading bankers as part of an overhaul under Anthony Jenkins. Credit: Dominic Lipinski/PA Wire

Barclays has revealed the first results under the new chief executive Anthony Jenkins. They have made £5.9 billion in the last nine months.

As expected, the bank has set aside more money to pay the PPI compensation, a move other banks will likely do later this week.

Barclays has also put aside cash to pay compensation for interest rate "swaps" sold or mis-sold to business.



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