Barclays bank swings back into profit in 2016
London - Arab Today
British bank Barclays returned to profit in 2016 after slashing provisions set aside for legal and compensation costs linked to foreign exchange and insurance scandals, it said Thursday.
Barclays reported annual net profit of £1.62 billion ($2.0 billion, 1.92 billion euros) compared with a loss after tax of £394 million in 2015, it said in an earnings statement.
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