Apr 26, 2018
Barclays reports quarterly loss of £764m
Barclays has reported a quarterly loss of £764m, hit by the cost of settling a mortgage mis-selling probe in the US and another charge for the UK payment protection insurance scandal, which overshadowed an improved underlying performance. In the first quarter, revenues at Barclays' corporate and investment banking unit were flat, while its pre-tax profits rose 48 per cent. Revenues at its UK division fell 3 per cent, while its pre-tax profits were down 75 per cent, mainly due to the PPI charge. The Barclays boss is expected to seek a meeting with Mr Bramson when he goes on an investor roadshow to discuss the bank's quarterly results in the next few weeks. Overall, Barclays' markets revenues rose 8 per cent, as fixed income, currencies and commodities trading fell 2.2 per cent, while equities trading rose 28 per cent.
Make a complaint about Barclays by viewing their customer service contacts.