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Barclays PPI provisions unchanged | Barclays PPI provisions unchanged |
(35 minutes later) | |
Barclays Bank has seen a big increase in its nine-month pre-tax profits to £2.85bn. | Barclays Bank has seen a big increase in its nine-month pre-tax profits to £2.85bn. |
In the same period last year, the figure was £962m. | In the same period last year, the figure was £962m. |
The amount that it has set aside to pay compensation for mis-sold personal protection insurance (PPI) is unchanged at £3.95bn. | 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. | 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". | 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. | "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 would review its foreign exchange trading operations. | |
Barclays, along with other international banks, has been fined for manipulation of the inter-bank lending rate Libor, a scandal which emerged in June 2012. | |
Now the bank is co-operating with regulators around the world, including the UK's Financial Conduct Authority, in their investigation of whether the currency market has been manipulated. | |
The BBC's business editor Robert Peston said that this is the "third such headache for Barclays, having already suffered penalties of £290m for rigging Libor interest-rate benchmarks and being subject to investigations into whether another important financial price, the so-called ISDAfix, has been manipulated". | |
In the case of Libor, there is also now a criminal investigation by the Serious Fraud Office. | |
An earlier version of this story suggested that provisions for PPI mis-selling had been reduced - this was not the case. | An earlier version of this story suggested that provisions for PPI mis-selling had been reduced - this was not the case. |