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Barclays third quarter pre-tax profit rises to £1.1bn

Barclays reported profit before tax for the third quarter increased from £837m to £1.1bn, that is less than expected due to a weak performance of markets business.

Net operating income dropped about 4 percent to £4.5 billion.

The bank said it had cut compensation in its investment banking unit by 25 percent for the period.

Barclays also confirmed it was setting up a restructure to separate its UK banking division from its riskier investment banking, following a regulatory rule that will be necessary for all British banks by 2019.


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