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Barclays reduces PPI mis-selling provisions Barclays PPI provisions unchanged
(35 minutes later)
Barclays Bank has reduced the amount it's set aside to pay PPI mis-selling compensation by £387m. Barclays Bank has seen a big increase in its nine-month pre-tax profits to £2.85bn.
In its third quarter results, the bank reported a big increase in nine-month pre-tax profits to £2.85bn. In the same period last year, the figure was £962m.
That's up from £962m in the same period last year. The amount that it has set aside to pay compensation for mis-sold personal protection insurance (PPI) is unchanged at £3.95bn.
On Tuesday, Lloyds Bank said it would set aside another £750m for compensation for PPI mis-selling, taking the total to £8bn.
In a statement, Barclays chief executive Antony Jenkins said that he was "not complacent".
"My executive team know we must push harder in the final quarter and into 2014," he said.
Also in the statement, Barclays announced that it will review its foreign exchange trading operations, and is working with authorities.
Barclays has already paid out £290m over rigging of the inter-bank lending rate Libor.
The BBC's business editor Robert Peston said that "the sins of the past are continuing to haunt big British banks - as Barclays has today revealed that it is cooperating with regulators around the world, including the UK's Financial Conduct Authority, in their investigation of whether the currency market has been manipulated."
An earlier version of this story suggested that provisions for PPI mis-selling had been reduced - this was not the case.