British Bank Barclays Profit Rose to 728 Million Pounds in Third Quarter

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British Bank Barclays Profit Rose to 728 Million Pounds in Third Quarter

On Wednesday, the British bank Barclays revealed that its profit increased to 728 million pounds ($1.2 billion) in the third quarter. Barclays also emerged out to be the latest bank to admit that it had received inquiries from supervisors who were looking into the probable manipulation of foreign exchange.

Barclays said that it was cooperative, but it is not possible for Barclays at this time to forecast the impact of these inquiries.

Barkley reported that a year back, a loss of £13 million ($20.9 million) occurred because it reserved a charge associated to its own debt and took a provision regarding improper sale of a type of financial protection insurance to its customers.

On a pretax basis, the bank reported a profit of £1.4 billion for the three months ending Sept. 30 on Wednesday. The figure was less from £1.9 billion compared to previous year.

Barclays also said that investment stores a pretax profit of £463 million. The figure was down from £988 million in the previous year.

Antony Jenkins, the Barclays chief executive said," These results demonstrate the underlying strength of the group, and the benefits of diversity, shown in the good progress made by several of our businesses in the quarter and year to date".


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