Barclays profit soars on reduced exposure to eurozone debt
British bank Barclays said Monday that the group's pre-tax profits soared to £2.42 billion (2.76 billion euros, $3.87 billion) in the third quarter as it slashed its exposure to eurozone debt.
Pre-tax profits had stood at £327 million in the third quarter of 2010, Barclays said in a statement.
Barclays said its sovereign exposure to Greece, Ireland, Italy, Portugal and Spain was reduced by 31 percent to £8.0 billion in the third quarter.
"Eurozone country exposures continue to be managed closely and valued appropriately," the bank added.
© 2011 AFP