LONDON – Barclays made an attributable loss of £1.4 billion in the second quarter, hit by increased PPI costs and losses resulting from the sale of its Africa unit.
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Barclays slides to £1.4 billion loss as PPI costs spike
Barclays made an attributable loss of £1.4 billion, hit by increased PPI costs and losses resulting from the sale of its Africa unit.
Jes Staley speaks during a panel discussion at the Institute of International Finance (IIF) annual meeting in Washington September 25, 2011.
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Barclays recognised a £700 million charge for PPI claimants in the first half of the year, up from £400 million a year ago. The lender also took a £2.2 billion loss on the sale of its operations in Africa. Revenues at Barclays' investment banking arm dropped 10%, while profits fell by almost a third.
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