Barclays has set aside an extra £700m for the payment protection insurance mis-selling scandal and revealed it has taken a loss on the sale of part of its African business.
The bank reported profits for the first six months of the year of £2.3bn, up 13%, but the accounting treatment of the sale of its African arm resulted in a £1.2bn loss for shareholders.
Even so, Jes Staley, the banks embattled chief executive, said the restructuring he had embarked upon since taking the helm in December 2015 was now complete.
Our business is now radically simplified, the restructuring is complete, our capital ratio is within our … target range, and while we are also working to put conduct issues behind us, we can now focus on what matters mos…
Read the full article at: https://www.theguardian.com/business/2017/jul/28/barclays-ppi-claims-profit-africa