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| Barclays reports 25% rise in profits | Barclays reports 25% rise in profits |
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| Barclays bank has reported a 25% rise in statutory pre-tax profits to £3.14bn for the six months to the end of June. | Barclays bank has reported a 25% rise in statutory pre-tax profits to £3.14bn for the six months to the end of June. |
| Profits last year were £2.55bn. The bank also set aside a further £850m to compensate customers - including further claims for mis-sold payment protection insurance. | Profits last year were £2.55bn. The bank also set aside a further £850m to compensate customers - including further claims for mis-sold payment protection insurance. |
| The results come less than a month after the bank's new chairman John McFarlane sacked Antony Jenkins. | The results come less than a month after the bank's new chairman John McFarlane sacked Antony Jenkins. |
| In total, Barclays has now set aside £6bn to compensate for PPI mis-selling. | In total, Barclays has now set aside £6bn to compensate for PPI mis-selling. |
| Mr McFarlane is expected set out plans to speed up reform at the bank later. | Mr McFarlane is expected set out plans to speed up reform at the bank later. |
| In April, Barclays set aside a further £800m, largely to cover potential further legal action and penalties for alleged foreign exchange manipulation. | In April, Barclays set aside a further £800m, largely to cover potential further legal action and penalties for alleged foreign exchange manipulation. |
| That resulted in Barclays reporting a 26% fall in its first quarter statutory profits to £1.34bn. | That resulted in Barclays reporting a 26% fall in its first quarter statutory profits to £1.34bn. |
| But Barclays made a £496m gain on the sale of assets bought following the collapse of Lehman Brothers in 2008. | |
| It also said it intended to maintain its dividend at 6.5p this year - the same as it paid in 2014. | |
| Mr McFarlane, who took over as executive chairman of insurance giant Aviva in 2012 after sacking then chief executive Andrew Moss, believes Barclays' turnaround is not happening quickly enough. | Mr McFarlane, who took over as executive chairman of insurance giant Aviva in 2012 after sacking then chief executive Andrew Moss, believes Barclays' turnaround is not happening quickly enough. |
| As he did at Aviva, Mr McFarlane, who only joined the bank in April, will take on executive duties, spearheading a quest for higher returns until a replacement is found, which, it is thought, is unlikely to be before early next year. | |
| Barclays also said it had set aside £250m for customer refunds and associated costs in response to complaints received relating to its packaged bank accounts. These incur a fee, but often come with added extras, a typical example being free motoring roadside assistance. | |
| Mr McFarlane said Barclays needed to accelerate growth in earnings, return on equity, and capital generation. | |
| The bank has already announced 19,000 job cuts. | |
| He said: "There is more that can be done to deliver better returns for shareholders, faster, and that work has begun." | |
| Mr McFarlane also announced the bank would speed up the process of mothballing or selling the bank's non-core divisions, to reduce them to a value of £20bn by 2017. |