Barclays Reports ‘Pretty Proper Progress,’ And A $1.8 Billion Loss

During the quarter, the bank took a loss of £1.4 billion on reducing its stake in Barclays Africa Group and an impairment of £1.1 billion related to the business.
The bank reported a loss of 1.4 billion pounds, or about $1.8 billion.
During the quarter, Barclays also took a £700 million charge related to payment protection insurance.
That compared with a profit of £677 million in the second quarter of 2016.
Revenue declined about 2 percent in the second quarter in its corporate and investment bank.

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