Arab Today, arab today barclays profit jumps awaiting new boss
Last Updated : GMT 16:00:08
Arab Today, arab today
Arab Today, arab today

Barclays profit jumps awaiting new boss

Arab Today, arab today

Arab Today, arab today Barclays profit jumps awaiting new boss

Anti-capitalist demonstrators
London - AFP

Barclays increased net profits by 43 percent in the first half as cost-cutting and higher revenue offset provisions for settling a series of scandals, the troubled British bank announced Wednesday.

Barclays, which earlier this month sacked chief executive Antony Jenkins with the bank plagued by market-rigging scandals, said profit after tax increased to £1.611 billion ($2.512 billion, 2.275 billion euros) in the six months to the end of June from £1.126 billion in the first half of 2014.

"The results reported today represent continued good progress for the business," said John McFarlane, who, in the role of executive chairman, has replaced Jenkins awaiting the appointment of a new chief executive.

"I am personally pleased with recent progress in the Investment Bank. It has generated a double-digit return," he said in Wednesday's earnings statement.

In early July, Barclays surprised markets by announcing that "new leadership" was required to accelerate an overhaul of the beleaguered group, leading to Jenkins' dismissal with immediate effect.

Jenkins replaced Bob Diamond in July 2012 -- who himself was forced to resign after the damaging Libor interest-rate fixing scandal that engulfed Barclays.

Jenkins had vowed to bring a new culture of decency to Barclays, and oversaw drastic restructuring that shrank its investment bank.

He however struggled to restore the group's damaged reputation which was tarnished also by the rigging of foreign exchange.

"We need to be much more customer and client orientated in our approach, to streamline and eliminate unnecessary and cumbersome bureaucracy, and to embed direct accountability for activities within our businesses," McFarlane said in Wednesday's statement.

"Crucially we must do this in a way which is consistent with our values, and with strong controls in place, so that we build this business in the right way."

Under Jenkins, Barclays slashed more than 19,000 jobs and recent reports suggested that it plans to axe thousands more staff across the group.

In May meanwhile, Barclays was slapped with a $2.4-billion fine by US and UK regulators for manipulation of foreign exchange trading. Five other global banks have been fined over the affair.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today barclays profit jumps awaiting new boss Arab Today, arab today barclays profit jumps awaiting new boss

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Air raid kills eight women, child

GMT 06:42 2017 Friday ,17 February

Air raid kills eight women, child
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 15:16 2017 Sunday ,19 February

Apple to start India operations with iPhone SE

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday