LONDON, Oct 29 (Reuters) - British bank Barclays Plc took a 560 million pound ($855 million) hit tocompensate customers mis-sold foreign exchange products and tocover a U.S. mortgages settlement, as it reported a 10 percentdrop in quarterly profits.
Barclays said on Thursday it made a 290 million poundprovision to compensate UK customers following an internalreview of rates given on foreign exchange transactions between2005 and 2012.
Barclays reported an adjusted pretax profit of 1.43 billionpounds for the three months to the end of September, from 1.59billion a year ago and below the average forecast of 1.65billion from analysts polled by the company.
Barclays this week said former JPMorgan investmentbank boss Jes Staley would become its new chief executive inDecember. ($1 = 0.6554 pounds) (Reporting by Steve Slater; Editing by Matt Scuffham)
Barclays (BARC)