Barclays net profit fell to $116 million after its U.K. unit swung to a loss because of the impact of the coronavirus pandemic
By Simon Clark Close Simon Clark Updated July 29, 2020 5:03 am ET LONDON— Barclays BCS 1.23% PLC’s net profit fell 91% to £90 million in the second quarter after its U.K. unit swung to a loss because of the impact of the coronavirus pandemic.
“The reason that we have been able to support the economy as extensively as we have and remain financially resilient is because of our diversified universal banking model,” Mr. Staley said in a statement. “Our hope is to be a firewall in the economic recovery and in dealing with the Covid-19 pandemic, much different than what happened with the banks some 10 years ago,” Mr. Staley said.
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