Barclays Q3 profit declines by 10% as new CEO James Staley has his work cut out

British financial giant Barclays PLC (LON:BARC) has released its third quarter earnings for this financial year, with a 10% drop in adjusted pre-tax profit compared to the same period last year. Statutory pre-tax profit dropped below the £1 billion mark during the third quarter of the year, standing at £861 million compared to £1.77 billion […]

British financial giant Barclays PLC (LON:BARC) has released its third quarter earnings for this financial year, with a 10% drop in adjusted pre-tax profit compared to the same period last year.

Statutory pre-tax profit dropped below the £1 billion mark during the third quarter of the year, standing at £861 million compared to £1.77 billion in the second quarter of the year.

Newly appointed CEO James Staley has his work cut out as leadership of Barclays, one of the world’s largest banks and handler of a vast percentage of global interbank FX order flow, will involve setting the bank’s operations back on an even keel after a year of extremely expensive regulatory fines and class action settlements relating to FX rate manipulation and misselling of PPI policies, as well as a slump in overall activity which blighted the firm during 2014 resulting in the company considering the redundancy of some 19,000 members of staff.

Liquidity decrease

The bank’s liquidity pool has actually decreased slightly from £145 billion as of June 30, 2015 to £142 billion as of September 30 this year, with an estimated liquidity coverage ratio of 121% having reduced to 118% by September 30.

Capture 2

Capture

 

Read this next

Crypto Insider

Gate.io lists DeFiChain’s DFI token amid growing popularity

Bitcoin-based DeFi platform DeFiChain announced the listing of its native DFI token on Gate.io, one of the world’s leading cryptocurrency exchanges.

Digital Assets

Binance in discussions with Japan regulators to relaunch operations

Binance, the world’s largest crypto exchange by traded volume, is reportedly seeking a license to operate in Japan after its exit from the country four years ago.

Digital Assets

OKX Chain integrates .crypto domains to simplify wallet transactions

Unstoppable Domains, a company building Blockchain domain names, has entered a partnership with EVM and IBC compatible chain OKC (OKX Chain). This collaboration will grant OKC’s users the ability to simplify deposits and withdrawals within the regulated fiat-focused crypto-asset exchange.

Retail FX, Technology

MetaTrader’s iOS issue opens brokers’ eyes to other trading platforms

In a surprising (or-not-so-surprising) move, Apple has removed MetaTrader 4 and MetaTrader 5 from its App Store in a huge blow for the leading FX trading platform provider.

Retail FX

Pepperstone adds Capitalise.ai analytics and automated trading tools free of charge

“We look forward to bringing significant value to Pepperstone traders and making a real, positive impact in their daily trading habits. We are excited to welcome them on board.”

Retail FX

FP Markets wins Best Global Value Broker for 4th consecutive year at the 2022 Global Forex Awards

“We greatly appreciate the continued international recognition as at FP Markets we pride ourselves on these attributes and these prestigious awards are testament to the hard work from our global team to always provide our clients with the ultimate trading experience.”

Inside View

How to Engage Your Customer at Every Stage of Their Journey

As many as 89% of successful businesses say that providing assistive customer experiences is critical to their growth. That’s because a mere 5% increase in customer retention can boost profits by 25% to 95%.

Industry News

CFTC fines Chinese firms Chinatex and COFCO $720,000 for wash trading

Chinatex traders engaged in wash trading in order to liquidate a long position in the account of an affiliated company and re-establish the position in its own account, to the ultimate benefit of its parent company, COFCO.

Industry News

US-based operation of Brazilian broker XP fined $500,000 for recordkeeping failures

“Proper recordkeeping is vital to protecting our markets and market participants from fraud and manipulation. This case serves as another example of the Commission’s intent to vigorously enforce the recordkeeping obligations of its registrants.”

<