Barclays Q3 profits slump 26% as bank reveals new regulatory probe

Barclays' pre-tax profits have fallen 26% in Q3 as a drop in trading revenue and its ongoing restructuring programme hit growth.

The bank reported pre-tax profit, excluding gains and losses on its own debt, of £1.39bn in Q3. That was down from £1.87bn a year earlier. Shrinking investment bank earnings were in part to blame for the drop: revenue from fixed income, currencies and commodities fell 44% to £940m, the bank said. Elsewhere, it acknowledged it is co-operating with authorities in a wide-ranging probe into the manipulation of currency markets. "The investigations appear to involve multiple market participants in various countries," Barclays said. "[The bank] is reviewing its foreign exchange tradin...