Barclays reported pre-tax profits for the third quarter of £1.8 billion but provisions for mis-sold PPI dragged the figure down ALAMYRobust results at its investment bank have given Barclays a timely boost in its long-running battle with an activist investor. The division’s profits rose by 77 per cent to £882 million in the three months to September 30, on income up 18 per cent to £2.6 billion. Barclays’ investment banking business has been under scrutiny since Edward Bramson, a renowned New York-based investor, built a 5.5 per cent stake in the bank. Mr Bramson, 68, has called the investment bank a “black box” that should be shrunk. Jes Staley, 62, Barclays’ chief executive, said yesterday that fee income at the division had been at a record level in the…

Source: The Times October 25, 2019 21:00 UTC