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		</div><p>Barclays has posted higher profits in the third quarter despite taking a £1.4 billion hit for payment protection insurance (PPI) claims.</p>
<p>The bank increased adjusted pre-tax profit by 16% to £1.8 billion for the three months to September.</p>
<p>However, once litigation and conduct costs are also included in the figure, the pre-tax profit for the period is £246 million, down from £1.46 billion in the same period last year.</p>
<p>Nonetheless, Barclays performed ahead of analysts’ forecasts despite being dented by the provision for mis-selling PPI on loans and credit cards.</p>
<p>The bank had previously announced that it expected to be hit by between £1.2 billion and £1.6 billion in costs related to PPI.</p>
<p>It also hailed a stronger-than-expected performance by its under-pressure investing banking arm.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
<p lang="en" dir="ltr">NEWS: Group CEO Jes Staley talks about our Q3 Results. <a href="https://twitter.com/hashtag/BarclaysResults?src=hash&;ref_src=twsrc%5Etfw">#BarclaysResults</a></p>
<p>&mdash; Barclays Bank (@Barclays) <a href="https://twitter.com/Barclays/status/1187610993238695937?ref_src=twsrc%5Etfw">October 25, 2019</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>In recent months, Barclays has faced pressure from activist investor Edward Bramson to scale back its investment banking operations amid testing trading conditions.</p>
<p>Pre-tax profit from the investment arm jumped by 67% to £886 million for the period, as income in the division also rose by 17% to £2.6 billion.</p>
<p>Group income for the quarter increased by 8% year on year to £5.5 billion as it was buoyed by the investment division.</p>
<p>Meanwhile, Barclays’ UK business reported a 7% slump in pre-tax profit to £1.9 billion for the quarter.</p>
<p>Despite beating expectations, the company warned that “the outlook for next year is unquestionably more challenging now than it appeared a year ago” due to uncertainty in the economy.</p>
<p>Group chief executive Jes Staley said:<em> “These represent another set of consistent and resilient results, and they show the benefits of our diversified model – one which allows us to weather today’s macro headwinds, and grow our businesses and profitability over time.</em></p>
<p><em>“As we continue to invest in our digital capabilities across the bank, management’s focus on cost control remains a priority.</em></p>
<p><em>“These results show we remain on track to achieve our target of a group return of greater than 9% for 2019.”</em></p>
<p> ;</p>
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