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Africa sale hits figures

Barclays makes loss and adds to PPI claims

Barclays followed Lloyds Bank by announcing an additional payout for mis-sold payment protection insurance.

It said it will set aside an extra £700m to meet compensation claims.

Group pre-tax profits jumped 13% to £2.34bn for the six months to the end of June, though this fell to a loss of £1.21bn after it sold part of its African business.

It made a profit of £1.11bn in the same period last year.

Barclays cut its stake in its African operations as part of a global strategic re-think unveiled last year. and aimed at focusing on two core markets of the UK and the US.

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