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Barclays Reports 'Pretty Good Progress,' and a $1.8 Billion Loss | Tony Seruga
Jul
30

Barclays Reports ‘Pretty Good Progress,’ and a $1.8 Billion Loss

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LONDON — Barclays said on Friday that it fell to a large loss in the second quarter, but said that it had reached a major milestone in its turnaround, finally completing a wide-ranging restructuring.

The bank has moved aggressively to get rid of businesses that it does not consider to be core future operations and to resolve misconduct issues that have dragged on its results, and costs from these efforts pushed it into a loss in the second quarter. Barclays said on Friday that it had taken charges associated with selling much of its African business and with a controversial insurance product that has weighed on the results of British banks…

Barclays Reports ‘Pretty Good Progress,’ and a $1.8 Billion Loss

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