Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

PPI costs lead to a £47m third-quarter loss at Barclays

Barclays have posted a third-quarter loss of £47 million as the cost of PPI claims and the impact of the charges on the value of its debt mount.

In the same period last year the financial institution posted profits of £2.4 billion and £1.2 billion in the second quarter.

The loss has been mostly caused by the £1.1 billion charge against its own debt and £700 million for PPI compensation. When adjusted, the figures indicate a profit of £1.7 billion, which is close to City analysts' forecasts.

Barclays has, in total, set aside £2 billion for PPI claims.

As a result of the losses, the bank has reduced its bonus pool by ten per cent when compared to the same period in 2011. It would also have performed better if it did not have to meet the costs of deferred bonuses from previous years, which stood at £942 million this year.

Charles Baker

Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-801479548-ADNFCR

Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide