plc has assigned an additional £ 600 m ( $ 731 m ) to meet the cost of claims over the mis - selling of payment protection insurance ( PPI ) . The bank ’s full allocation for such claims , the deadline for which has been extended to march 2019 , has now reached £ ##500 . On Wednesday , Lloyds plc announced it would assign an extra £ 1bn to meet potential claims . Despite the news , Barclays reported a 35 % rise in Q3 profits . The company ’s profits for the first nine months of 2016 fell to £ 2.9bn , down 25 % due to losses of “ non - core ” businesses .
Barclays has assigned an additional £600m ($731m) to meet the cost of claims over the mis-selling of payment protection insurance (PPI). The bank’s full allocation for such claims, the deadline for which has been extended to June 2019, has now reached £8.4bn. On Wednesday, Lloyds Bank announced it would assign an extra £1bn to meet potential claims. Despite the news, Barclays reported a 35% rise in Q3 profits. The company’s profits for the first nine months of 2016 fell to £2.9bn, down 10% due to disposal of “non-core” businesses.