BARCLAYS DOUBLED ITS PROFIT

Barclays profit rose to £216 a second and it doubled to almost £1.7billion in the first three months of 2017.

However, it is named and shamed by the City watchdog “Financial Conduct Authority” as one of receiving the most complaints.

Barclays topped the list with receiving 438,200 complains during the second half of last year.

The profit increase came from the bank closing or selling parts of their branches.

At the same time Barclays, chief executive, Jes Staley applied for his re-election  after a whistle-blowing scandal.

Staley is under investigation by regulators when it was revealed he tried to unmask the sender of two letters making accusation of a senior Barclays executive.

Mr Staley admitted now that he made a mistake handling his own investigation and protecting a colleague. He added further that he should have left it to the organisation to deal with it.

Investors were strongly advised to abstain at the vote for his re-election in the next general meeting on May 10.   

He had been asked whether he is thinking to resign but he denied it and gave the reason that the board is supporting him unanimously.

Since the last year, Barclays’ share prices experienced one of its biggest slump because of the Brexit vote in June. It nearly lost five per cent on the FTSE yesterday.

Even so Barclays had a massive rise in profit they still lost at its investment bank.