Aug 2, 2018

Barclays profits hit by £2bn of costs

Litigation costs and settlements have made a big dent in Barclays' profits for the first half of the year. Pre-tax profits fell from £2.3bn to £1.6bn after the bank paid out about £2bn, including a £1.4bn settlement with the US Justice Department. Without the charges, Barclays saw pre-tax profits jump 20% to £3.7bn, with the UK arm seeing a 30% rise to £826m. Boss Jes Staley called the figures "Strong", with the bank starting to show "Its true potential and value".

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