In its Q3 results, the bank revealed it has set aside additional provisions of £270m in Q315 relating to the settlement of two residential mortgage backed securities claims, taking the total additional provisions for ongoing investigations and litigation including Foreign Exchange in 2015 to £1,070m.
Additional UK customer redress provisions of £290m were made in Q315 as a result of foreign exchange transactions between 2005 and 2012, taking the total provisions for UK customer redress in 2015 to £1,322m. No additional provisions for PPI redress were made in Q3.
A loss on sale of £201m was also recognised in Q3 relating to the sale of its Portuguese retail business, which is due to complete in Q116. This is in addition to the loss of £118m recognised in H115 relating to the sale of the bank's Spanish business.
The bank's Core performance saw stronger results. Profit before tax increased 7% to £6,005m with improvements in all Core operating businesses. Growth in profit before tax in the Investment Bank and Barclaycard was particularly strong, increasing 31% to £1,757m and 16% to £1,303m respectively.
John McFarlane, Chairman, said:
"Today's results show another quarter of progress in our Core businesses alongside the early effects of some of the changes that we are making.
"We are pleased that Jes Staley will join us on 1 December as Group Chief Executive Officer, earlier than expected, and we are in the final stage of appointing a Senior Independent Director and Deputy Chairman to replace Sir Mike Rake on his retirement from the Board in the near future.
"As we align Barclays around our three priorities - focus on core (segments and markets), generating shareholder value, and instilling a high performance culture with strong ethical values - we now have a forward agenda that has been discussed and agreed with Mr. Staley.
"We will update the market on our plans for structural reform after we have agreed them with the regulator.
"Now that we have a new CEO in place, we will provide further updates on future direction at the full year results."
