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Barclays profits fall sharply
The bank’s key investment banking unit, Barclays Capital, saw a drop in revenue. Pre-tax profit for the six months to the end of June was £2.64bn, down 33 per cent from a year ago but above the average forecast of … Continue reading
Banks give up the fight in £9bn PPI refund row
So it looks as though the row over Payment Protection Insurance is finally drawing to a close: the British Bankers Association has dropped its legal challenge over the scandal, which means that our biggest banks will now be exposed to … Continue reading
UK banks ordered to pay back PPI abuse cases
Over 1.5 million complaints on litigious PPI selling procedures had been reported to the FSA in the last five years 100,000 of which were registered in the last financial year. PPI is a mechanism which clients can purchase on a voluntary … Continue reading
Barclays profits drop after PPI payout
The group, one of Britain’s top five banks, set aside £1 billion in the six months to June 30 to cover refunds for customers who were mis-sold PPI. But stripping out the PPI provision, Barclays would have seen profits increase … Continue reading
Barclays profits fall by a third due to PPI
The bank also said it aimed to cut at least 1,400 more jobs in 2011, having cut 1,400 posts already this year. The fall in half-year profits was partly caused by a £1bn provision for settling claims of mis-selling of … Continue reading