Barclays meets forecasts but unveils two new US probes

Barclays swung to a statuary loss before tax in the third quarter, but the adjusted bottom line - a better measure of its underlying performance - saw strong growth when excluding the 1.8bn pounds in own credit charges and compensation for mis-sold Payment Protection Insurance (PPI).

Barclays swung to a statuary loss before tax in the third quarter, but the adjusted bottom line - a better measure of its underlying performance - saw strong growth when excluding the 1.8bn pounds in own credit charges and compensation for mis-sold Payment Protection Insurance (PPI).

On an adjusted basis, pre-tax profit totalled £1.73bn in the three months to September 30th, pretty much flat quarter-on-quarter but well ahead of the £1.34bn reported in the third quarter last year. This was broadly in line with analysts' forecasts.

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