Profit nearly halved after gaining new profit from debt selling mistake

Barclays Profits nearly halved in the second quarter from a year earlier, as the London-based bank took a fresh hit from a debt-selling mistake and braced for a surge in bad loans.

The Bank of England on Thursday said it made £1.07 billion, or $1.3 billion, in the three months to the end of June. This is down from £2.11 billion in the same period a year earlier. Analysts had expected a quarterly profit of £1.19 billion, according to FactSet.

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