Performance at Barclays Looks Decent If You Turn a Blind Eye to Litigation Charges; FVE Maintained
If one were to exclude litigation and conduct charges, one would see a strong third quarter by Barclays and an even more pronounced year-to-date performance of the U.K.-based banking group. For the the first nine months, profit before taxes came in at GBP 5.3 billion, up 23%, driven primarily by lower impairment charges both in its U.K. and international business as well as lower operating expenses. Including litigation and conduct charges of GBP 2.1 billion, year-to-date performance looks less ...Barclays is a holding company. Through its subsidiaries, Co. is a financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services. Co.'s business segments are: Barclays U.K, which provides everyday products and services to retail customers and small to medium sized enterprises; Barclays International, which delivers products and services designed for Co.'s corporate, wholesale and international banking clients; and Head Office, which comprises head office and central support functions (including treasury) and businesses in transition.
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