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LONDON, July 30 (Reuters) - Barclays Plc saidunderlying profits fell 7 percent in the first six months ofthis year after a drop in investment bank revenue as the Britishbank attempts to streamline the business and reform culture.
Barclays said adjusted profits in the six months to the endof June were 3.3 billion pounds ($5.6 billion), down from 3.6billion pounds a year ago.
Costs were lower but revenues fell 7 percent, largely due toan 18 percent drop in the investment bank, where banks have beenhit by a decline in fixed income trading.
Barclays set aside another 900 million pounds to compensatecustomers for mis-sold insurance products.($1 = 0.5902 British Pounds) (Reporting by Steve Slater; Editing by Matt Schuffham)
Barclays (BARC)