Barclays First Quarter Profits Down 25%

Barclays First Quarter Profits Down 25%

Barclays has reported a 25% fall in pre-tax profits to £793m for the first quarter of 2016.
The bank, which is being overhauled under new boss Jes Staley, said its performance had been hit by widening losses in its “non-core” businesses, including loans to the education, social housing and local authority sectors.
Barclays had already warned over first quarter trading, saying alongside its annual results in March that figures were set to be weaker than last year in the face of turbulent market conditions and a “particularly strong March in 2015”.