Tuesday, 2 August 2011

Barclays profits slump 38% on compensation payout (AFP)

The Barclays bank logo pictured in central London. Its earnings after tax dived to £1.50 billion ($2.44 billion, 1.72 billion euros) in the six months to June, compared with £2.43 billion in the same part of the previous year, the bank said in a results statement.(AFP/Ben Stansall)AFP - Banking group Barclays said its first half net profit slid 38 percent as investment division revenues fell and after it set aside £1.0 billion to compensate clients who were mis-sold credit insurance.


Source: http://us.rd.yahoo.com/dailynews/rss/britain/*http://news.yahoo.com/s/afp/20110802/wl_uk_afp/britainbankingcompanyearningsbarclays

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